TORONTO — Khan Resources has said it will use all available legal means, including international arbitration, to fight a decision by Mongolian authorities not to reinstate the Canadian miner’s licenses at the Dornod uranium deposit.
Mongolia chose Rosatom unit ARMZ Uranium Holding Company in August last year to develop the deposit as part of a 50-50 venture with Mongolia’s state-owned MonAtom.
Toronto-based Khan said Friday that Mongolia’s Nuclear Energy Agency had published a notice in Mongolian newspapers saying it would not reinstate the exploration and mining licenses.
It said there was no legal basis for the agency’s decision.
(Reuters)
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