Canadian court to hear Mongolian uranium mining case
Canada’s Ontario Superior Court has scheduled for January 24 a hearing in a lawsuit filed by Khan Resources, a Canadian corporation involved in uranium exploration and development, against Russian uranium producer Atomredmetzoloto JSC (ARMZ), according to the Russian Legal Information Agency.
Khan Resources embarked on a joint venture with ARMZ to develop a uranium mining area in Mongolia known as the Dornod fields.
Khan Resources had a 58 percent share in the joint venture and ARMZ had a 21 percent share. However, Khan Resources said ARMZ later sought to deprive Khan Resources of its interests in the fields by entering into another joint venture with the Mongolian government to develop the same land. ARMZ took steps to cancel Khan”s mining license so that they could proceed with their new joint venture with the Mongolian government. Khan Resources also filed a suit against the Mongolian government with the International Court of Arbitration in January 2011. Khan Resources said the court is expected to consider in May 2012 whether the case falls within its jurisdiction, after which the lawsuit is expected to be considered on its merits.
Please note that this article and / or its accompanying media (picture, video, sound files etc…) has not been written, created or taken by M.A.D. Investment Solutions staff. It is not copyrighted to M.A.D. Investment Solutions nor does the company claim any ownership or rights towards the content and its accompanying media. The above article does not in any case represent the views or opinions of M.A.D. Investment Solutions or any of its affiliate individuals or companies. The article above is purely meant as a source of information to readers and does not constitute a legal or biding agreement in any way, shape or form. Ownership of the content and its accompanying media remains with its legal owner or contributor but was sourced from Public Domain sources. If you are the owner of this content or its media and would like it replaced or taken out of our website, please contact us on: info@mad-mongolia.com. For contact and comments directly relating to the above article and or its accompanying media, please refer to the source as stated below.
Source : News.mn
Khan Resources embarked on a joint venture with ARMZ to develop a uranium mining area in Mongolia known as the Dornod fields.
Khan Resources had a 58 percent share in the joint venture and ARMZ had a 21 percent share. However, Khan Resources said ARMZ later sought to deprive Khan Resources of its interests in the fields by entering into another joint venture with the Mongolian government to develop the same land. ARMZ took steps to cancel Khan”s mining license so that they could proceed with their new joint venture with the Mongolian government. Khan Resources also filed a suit against the Mongolian government with the International Court of Arbitration in January 2011. Khan Resources said the court is expected to consider in May 2012 whether the case falls within its jurisdiction, after which the lawsuit is expected to be considered on its merits.
Please note that this article and / or its accompanying media (picture, video, sound files etc…) has not been written, created or taken by M.A.D. Investment Solutions staff. It is not copyrighted to M.A.D. Investment Solutions nor does the company claim any ownership or rights towards the content and its accompanying media. The above article does not in any case represent the views or opinions of M.A.D. Investment Solutions or any of its affiliate individuals or companies. The article above is purely meant as a source of information to readers and does not constitute a legal or biding agreement in any way, shape or form. Ownership of the content and its accompanying media remains with its legal owner or contributor but was sourced from Public Domain sources. If you are the owner of this content or its media and would like it replaced or taken out of our website, please contact us on: info@mad-mongolia.com. For contact and comments directly relating to the above article and or its accompanying media, please refer to the source as stated below.
Source : News.mn
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