MOU between MonAtom and Khan Resource considered as not effective by Unuudur Newspaper

Dispute over the uranium license of Khan Resource has been soaring since Naadam. As reported earlier on www.business-mongolia.com, according to the court decision, the Nuclear Energy Agency lost its case against Khan Resource and if the license will not be revoked, the Mongolian Government would be called to the International Arbitrage Court.

Another scandal was published on Unuduur Newspaper (No184, Wednesday, August 08 2010) on Khan Resource uranium secret deal. Binding force of Memorandum of Understanding is not strong, however, MonAtom LLC, a state owned company in charge of uranium, and Khan Resource, a Canadian uranium company, signed Memorandum of Understanding in January 22 2010 in Ontario State, Canada. As stated in MOU, its dispute will be settled according to Ontario State law.

Nuclear Energy Agency is in charge of implementing the state policy on radioactive mineral and nuclear energy, introduction of nuclear technology and nuclear research and of ensure safety of radioactive and nuclear and their professional monitoring.