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New Uranium Mining Projects - Mongolia   flag

(last updated 15 Oct 2023)

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> See also Data for: Deposits, Proposed and Active Mines · Old Mines and Decommissioning

In Mongolia, uranium prospection and exploration is being performed by Jindal Steel & Power Ltd , Denison Mines Corp., Pitchblack Resources Ltd. , Mega Uranium Ltd., UGL Enterprises Ltd. , Western Prospector Group Ltd., Erdene Gold Inc. , Red Hill Energy Inc. , Khan Resources Inc., Marubeni Corp. , Century City International Holdings Ltd , Chain Bright LLC , Solomon Resources Ltd , Tooroibandi Limited, Uranium 308 Corp. , Peabody Energy Corporation , Renova , Garrison International Ltd , Gobi Coal & Energy Ltd

Uranium mining in Mongolia is opposed by Golomt - Anti Nuclear Movement Mongolia .



India to begin talks on uranium supply with Mongolia

India and Mongolia plan to begin formal talks this month on trading in uranium, a mineral abundant in the northeast Asian country and a key attraction for New Delhi as it seeks a tighter partnership with nations on China's periphery.
Mongolia holds one of the world's largest reserves of uranium, which fuels nuclear plants that India is counting on to generate an ever-growing chunk of its energy pie. It is also testing its traditional dependence on China by increasing its engagement with other countries. (The Telegraph Mar. 9, 2017)

Kazakhstan and Mongolia intend to cooperate in exploration and mining of uranium

During a visit in Mongolia, the Chief Executive Officer of JSC NAC Kazatomprom Askar Zhumagaliyev met with the Chairman of the State Great Khural (Parliament) of Mongolia Mr. M. Enkhbold, the Minister of Mining Industry of Mongolia Mr. T. Dashdorj, General Secretary of the Nuclear Energy Commission of Mongolia G. Manlaijav, and the executive director of the state-owned company MON-ATOM D. Dalaijargal.
During the meeting, the parties pointed out some areas for cooperation of mutual interest such as geological exploration, uranium mining and processing and etc. (Kazatomprom Feb. 21, 2017)

Demonstration in Ulaanbaatar against uranium extraction in Mongolia

Several NGOs expressed their opposition against uranium extraction in Mongolia, informed the public of the fatal effects deriving from uranium in Ulaanbadrakh soum [county], and prompted decision makers to visit the soum in Dornogovi Province to witness the conditions, at a peaceful demonstration at the Central Square [in Ulaanbaatar] on Monday (June 9).
Residents of Ulaanbadrakh soum have contacted the NGOs for support against uranium operation of Gogegobi LLC and Areva Mongol LLC, fully owned subsidiary of France-headquartered uranium-giant Areva, at the soum which has reportedly seen 200 livestock die and many more with birth defects due to uranium contamination in the region. (UBPost June 12, 2014)

Uranium Action Day: protests at Areva office in Ulaanbaatar

Activists of Golomt - Anti Nuclear Movement Mongolia held protests against the proposed uranium mining in Mongolia at the offices of Areva in Ulaanbaatar on Sep. 29, and Oct. 1, 2012. (Golomt Oct. 2, 2012)

Two uranium processing facilities to be built in Dornod province

The Nuclear Energy Authority says it has big plans for Mongolia's uranium mining industry. The authority says two uranium processing facilities will be built in Dornod aimag (province), and construction preparation work is already underway. The factories will export uranium products to France and Kazakhstan.
Uranium exploration efforts began in Mongolia in 2009, and the Nuclear Energy Authority is planning to intensify exploration efforts. The work of establishing uranium mines in Dornod and Dundgobi aimags has begun. (news.mn Dec. 28, 2011)

107 uranium exploration licenses issued in Mongolia

According to the Nuclear Energy Authority, 107 uranium exploration licenses have been issued in Mongolia so far. Two uranium exploitation licenses have been issued as well. The agency also says the state spent MNT 16 billion for uranium exploration in 2009, MNT 25.1 billion in 2010, and MNT 37.1 billion in 2011.
Specialists say most exploration work is being done in Dornod, Sukhbaatar, and Dornogobi aimags. A total of nine uranium deposit mines have been identified in the country, and these mines have an estimated 68,500 tons of uranium. Forty-three exploration licenses have been granted in Dornogobi aimag, 26 in Dornod aimag, and 19 in Sukhbaatar aimag. Twenty-eight companies have finished research and test work and have begun to prepare to exploit uranium deposits. Some companies are planning to exploit uranium beginning in 2014 and to build uranium processing facilities in Dornod, Dornogobi, and Dundgobi aimags. (news.mn Dec. 16, 2011)

Herders on horseback protesting in Ulaanbaatar against mining activities

Central Square of the capital city is more crowded than usual for the last ten days. United under the moto "Save the Nation", members of three civil movements - United for Rivers and Lakes , Khuder River , and Gal Undesten - started to converge on Sukhbaatar Square since April 19th  with 100 horsemen and horse carts and erected eight gers (yurts) there. Most of them are herders, who have come on horseback from countryside to demand stopping of mining activities that destroys their pastureland.
All the members had their heads bound in bands and held sign boards with the slogans "We want resignation of the Government!", "Give power to the People!". The movement wants a national discussion on the present situation, resignation of the Government, and dissolution of Parliament. Moreover, they already have the anthem "Wake up Mongols", which has been playing all day at the Sukhbaatar Square.
According to an activist of the movement there are about 400 people from different soums (counties) of 18 provinces participating in this civil movement to protect their living areas. They are calling out people to join and to involve in the movement at the Sukhbaatar Square. Both the assembly and the putting up of gers in Sukhbaatar Square are in violation of orders, but the gers are still there. Another 300 horsemen are on their way to Ulaanbaatar from the western provinces to join those already here. (UB Post Apr. 26, 2011)

France and Mongolia sign agreement on nuclear cooperation, uranium mining

On Oct. 14, 2010, France and Mongolia signed a cooperation agreement in the field of nuclear energy. It covers, among others, uranium exploration and exploitation by Areva in Mongolia. (Areva Nov. 2, 2010)

China and Mongolia sign Memorandum of Understanding on nuclear power cooperation

On June 1, Mr. Sun Qin, General Manager of China National Nuclear Corporation (CNNC) signed the Memorandum of Understanding on Radioactive Minerals and Nuclear Power Cooperation (MOU) with Mr. Enkhbat, Director General of the Mongolian Nuclear Energy Agency in the presence of the premiers of the two states during Chinese Premier Wen Jiabao's visit to Mongolia. The execution of the MOU laid the foundation for cooperation between the two countries in peaceful use of nuclear energy and uranium resources in particular. (CNNC July 19, 2010)

India to mine uranium in Mongolia

India and Mongolia on Wednesday (Jan. 13) decided to operationalise their pact on civil nuclear cooperation by assisting in capacity creation for Ulan Bator's nuclear sector and considering the manner in which India would begin uranium mining in Mongolia. (The Hindu Jan. 13, 2010)

Mitsubishi Corporation joins Areva with uranium exploration in Mongolia

On Dec. 21, 2009, Areva announced that it has invited Mitsubishi Corporation to participate in the development of its uranium exploration assets in Mongolia with the possibility of acquiring 34% of Areva Mongol over time. Areva currently holds 36 uranium exploration licenses on more than 14,000 km2 in both the Dornogobi and Sukhbaatar provinces.

Areva signs agreement with Mongolia

French nuclear company Areva has signed a Memorandum of Understanding (MoU) on nuclear energy and radioactive materials cooperation with Mongolia's Atomic Energy Department (AED). Areva CEO Anne Lauvergeon reiterated Areva's interest in increasing its investment in Mongolia and infomed the Mongolian president that her company would "assist Mongolia to train its mining specialists." (WNN Oct. 7, 2009)

India signs uranium supply agreement with Mongolia

India Monday (Sep. 14) signed a uranium supply agreement with Mongolia, the fifth country to seal a civil nuclear pact with New Delhi, and announced a soft loan of $25 million to rejuvenate the economy of the resource-rich Central Asian country. (SamayLive Sep 14, 2009)

Japan and Mongolia sign agreement on joint uranium mine development

Japan and Mongolia signed a mine development agreement Thursday (July 16), as resource-poor Tokyo searches for ways to secure mineral products. Japanese Prime Minister Taro Aso agreed with visiting Mongolian premier Sanjaa Bayar that their nations would jointly develop uranium mines for use in nuclear power plants. (Straits Times July 16, 2009)

IAEA offers assistance with development of uranium deposits to Mongolia

Mongolia and the International Atomic Energy Agency (IAEA) will work together toward implementing a joint program for the peaceful and effective use of the nation's uranium. IAEA Director General ElBaradei said the IAEA will support Mongolia's efforts to use its proven reserves with the help of international assistance. (UB Post Apr. 24, 2009)

Russia-Mongolia uranium agreement signed

Russia and Mongolia have signed an agreement to cooperate in the production of Mongolian uranium. Prime minister Sanjaa Bayar also told journalists that his country is interested in building a nuclear power plant with Russian help.
According to reports, the agreement signed during a visit by Bayar to Moscow comprises a plan of joint actions whereby Russian specialists would assist in the uranium exploration, extraction and processing in Mongolia. OECD Nuclear Energy Agency and International Atomic Agency figures show Mongolia's 'reasonably assured' uranium resources are currently estimated at some 46,000 tonnes, but Sergei Kiryenko, head of Russian state nuclear corporation Rosatom, was upbeat about the possibility the country could have much more. "I think they are more than officially registered, over 100,000 tonnes," he said. (WNN 11 Apr. 2008)
According to RIA Novosti, the Russian Federation Council ratified on Dec. 24 the agreement with Mongolia on the creation of a uranium mining joint venture. (Emfis Dec. 27, 2010)

Russia, Mongolia to jointly prospect, produce, process uranium

"[Nuclear power agency] Rosatom and Mongolia's industry and trade ministry signed a protocol on development of cooperation in the field of geological prospecting, production and processing of uranium ores," Rosatom secretary Sergei Novikov said on April 13, 2007. Rosatom head Sergei Kiriyenko held a meeting with Mongolian President Nambaryn Enkhbayar and held talks with the country's prime minister, Miegombyn Enkhbold, during which it was agreed to implement international projects in Russia and Mongolia. (RIA Novosti, April 13, 2007)


Gurvan-Saihan deposit

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On Jan. 13, 2022, Denison Mines Corp. announced that it has executed a Repayment Schedule Agreement with Uranium Industry a.s. ("UI"), pursuant to which the parties have negotiated the repayment of the debt owing from UI to Denison, and that Denison has received an initial US$2 million debt repayment instalment in accordance with the terms of the Agreement.

On July 30, 2020, Denison Mines announced that the London Court of International Arbitration ("LCIA") has recently rendered a final award in favour of Denison for the previously disclosed arbitration proceedings between Denison and Uranium Industry a.s. ("UI") related to the 2015 sale by Denison to UI of its mining assets and operations located in Mongolia. The arbitration panel declared that UI violated its obligations to Denison under the related agreements, and ordered UI to pay Denison USD$10,000,000 plus interest at a rate of 5% per annum from November 16, 2016, plus certain legal and arbitration costs.

In November 2015, Denison completed the sale of its mining assets and operations located in Mongolia to UI pursuant to an amended and restated share purchase agreement. The primary assets at that time were the exploration licenses for the Hairhan, Haraat, Gurvan Saihan and Ulzit projects. On September 20, 2016, the Mineral Resources Authority of Mongolia formally issued mining license certificates for all four projects, triggering Denison's right to receive additional post-closing contingent consideration of USD$10,000,000. The required payments were not made.
On July 22, 2016, the Mineral Resources Authority of Mongolia (MRAM) issued letters to the Gurvan Saihan Joint Venture (GSJV) notifying it of its intention to grant mining licenses to the GSJV for the Hairhan, Haraat, Gurvan Saihan and Ulzit projects. On September 20, 2016, the mining license certificates for all four projects were formally issued. (Denison Mines, Management's Discussion and Analysis for the three and nine months ended Sep. 30, 2016, Nov. 3, 2016)

Czech company obtains mining license for Gurvan-Saihan uranium deposit in Mongolia: The government of Mongolia issued to Czech firm Uranium Industry a mining license for an unidentified uranium deposit.
In July, Denison Mines had announced the sale of exploration licenses (Gurvan-Saihan) to Uranium Industry. (E15.cz Aug. 11, 2015)


Zoovch Ovoo deposit, Dornogobi

(also spelled Zuuvch Ovoo)

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Orano signs protocol for development and operation of Zoovch Ovoo uranium mine project: Orano signed a Protocol for the development and operation of a uranium mine project in Mongolia. The signing took place at a ceremony at the Elysée Palace on 12 October 2023 [...].
This Protocol sets out the framework for an investment agreement that will be mutually beneficial to both partners. The envisaged investment agreement will lay the foundations for a relationship between Orano, and the Mongolian Government set to span several decades, in the development and industrial operation of the Zuuvch-Ovoo uranium mine project located in the Southwestern part of Mongolia, in Dornogovi province. The investment agreement is expected to be signed by the end of the year. (Orano Oct. 12, 2023)

Feasibility study of uranium plant underway for Zoovch Ovoo and Dulaan Uul uranium deposits: H. Nyambaatar, Minister of the Republic of Kazakhstan, gave information about the working group established by the government working at the Zövch-Ovoo and Dulam-Uul uranium mining sites. He said, "Last month, the Government of Mongolia established a working group to sign an investment agreement with Orano, a world leader in uranium production and a key player in the nuclear energy industry. The working group is working in the Zövch-Ovoo and Dulam-Uul uranium mining areas. Investments in uranium deposits are underway. It is planned to extract 750 tons of powder in the first year after the plant is put into operation, and to gradually increase the capacity to 2,500 tons per year after 5 years. The feasibility study of the uranium plant is being developed [...]." (Ulanbaatar News June 11, 2023)

In situ leach uranium mining at Orano's Zoovch Ovoo deposit to reach full capacity by 2022: In its framework, a company named 'Badrakh Energy' that runs operations at the Zuuvch-Ovoo deposit in Ulaanbadrakh soum, Dornogobi aimag is carrying out experimental operations to mine 25 kg of uranium daily, reported CEO of Mon Atom LLC D.Dalaijargal. As the company is currently ensuring preparations to operate at full capacity, it will become possible to mine 8,000 kg of uranium each day from next year, highlighted the company's representative Marc Meleard. If the level of operations is reached, amendments will be made to the feasibility study, and an investment agreement will be established with the Government. (AKIpress Nov. 15, 2021)

Pilot plant for uranium in situ leach mining built at Orano's Zoovch Ovoo deposit: In November, Badrakh Energy LLC (formerly AREVA Mines LLC), a subsidiary 66% owned by AREVA Mongol LLC (AREVA Mongol LLC is 66% owned by Orano Mining and 34% owned by Mitsubishi Corporation) and 34% owned by the state enterprise Mon-Atom, completed construction of the pilot ISR facility at Zuuvch Ovoo in the Sainshand basin in Mongolia. The results of this pilot will allow to confirm and optimize its technical and economic specifications with a view to future operation. (Annual Activity Report 2018, Orano)
All administrative formalities were completed in 2019 with a view to obtaining the permit authorizing the launch of the pilot plant. (Annual Activity Report 2019, Orano)
In November [2020], Badrakh Energy (a subsidiary of Orano Mining in Mongolia) started processing the uranium-laden resins from the 2011 pilot at its Zuuvch Ovoo pilot plant. (Annual Activity Report 2020, Orano)
In July [2021], the Zuuvch Ovoo pilot in Mongolia began mining uranium using the In Situ Recovery technique. The tests will take approximately two years to complete, in order to confirm the economic, environmental and societal feasibility of the project. (Annual Activity Report 2021, Orano)
At the end of 2022, the Zuuvch Ovoo pilot had produced a cumulative total of approximately 8 metric tons of uranium. (Annual Activity Report 2022, Orano)

Mining license issued for Areva's Zoovch Ovoo deposit: Following an initial feasibility study, mining licenses were granted for the Dulaan Uul and Zoovch Ovoo deposits in June 2015 to Areva's subsidiary Cogegobi. (Areva 2015 Reference Document, April 2016)

Areva forms joint venture to develop uranium mines in Mongolia: On October 26, 2013, Areva announced that it has signed an agreement to develop uranium mines in Mongolia and to create the company AREVA Mines LLC, 66% owned by Areva and 34% owned by MON-ATOM, the Mongolian state-owned nuclear company. An agreement for Mitsubishi Corporation to take an equity interest has also been signed.
Present in the country since 1997, Areva has carried out exploration work resulting in the discovery of two uranium deposits in the province of Dornogobi, Dulaan Uul and Zoovch Ovoo, whose resources are estimated at 60,000 tonnes. (Areva Oct. 26, 2013)
Mongolian protesters had warned before the signing that a deal could lead to the contamination of water resources in the area. "We are not against cooperation with France... We support cooperation in between our countries in all areas. But we just say 'no uranium exploration in Mongolia', as not having it is the best way to prevent radioactive pollution and contamination," said Selenge Lkhagvajav, one of the protest leaders. (AFP Oct. 26, 2013)

Areva resumes uranium exploration in Mongolia: Cogegobi, the Mongolian subsidiary of AREVA, a nuclear group based in France, has activated its uranium exploration in Mongolia again after a temporally halt due to local resident opposition.
In April this year COGEGOBI LLC announced an estimated 55,000-ton uranium deposit in Ulaanbadrakh sum in Dornogovi province (East Gobi). Around the same time, local media reported the strange deaths and deformities of a number of young livestock in Ulaanbadrakh sum. Over 300 households' livestock were affected by the uranium related operations by Cogegobi LLC in the area. Local herders and residents launched an anti-uranium exploration campaign in order to stop the Cogegobi drilling at the site. Cogegobi ended up halting the drilling operations and closed its camps due to the local residents and herders protests.
The Central Geological Laboratory, State Central Veterinary and the Sanitary Laboratory determined the reason behind the sudden death of dozens of calves in Ulaanbadrakh sum in Dornogovi aimag. After testing samples it was found that the deaths were caused by heavy metal poisoning. But the expert team appointed by Prime Minister N.Altankhuyag to conduct further inspection released the conclusion that the strange deaths and deformities of the young livestock was caused by chemical selenium not from uranium. (News.mn Oct. 25, 2013)


Dulaan Uul deposit, Dornogobi

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Feasibility study of uranium plant underway for Zoovch Ovoo and Dulaan Uul uranium deposits:
> See here

Mining license issued for Areva's Dulaan Uul deposit: Following an initial feasibility study, mining licenses were granted for the Dulaan Uul and Zoovch Ovoo deposits in June 2015 to Areva's subsidiary Cogegobi. (Areva 2015 Reference Document, April 2016)

Areva forms joint venture to develop uranium mines in Mongolia:
> See here

Mongolia and Mitsubishi to take stake in Areva's Mongolian uranium mining subsidiary: Mongolia will take a stake in a domestic uranium venture led by France's Areva SA and support its development, signaling the nation's willingness to revive foreign investment, said Prime Minister Norovyn Altankhuyag.
Mongolia will take a 34 percent share of the uranium mining unit of Areva Mongol LLC, he said, adding that this is the level of ownership under domestic law that designates a strategic deposit. Areva Mongol owns 27 uranium exploration permits in the country and is seeking to upgrade them to allow mining. It is negotiating an equity interest with state-owned MonAtom LLC, according to the Paris-based company's website.
Japan's largest trader, Mitsubishi Corp., is also a potential investor, it said. Mitsubishi is waiting for Mongolian government approval to exercise its option on Areva Mongol shares, Japan's biggest trading company said in an e-mailed response to questions. The approval is expected in the near future, Mitsubishi said. (Bloomberg Sep. 17, 2013)

"Underground heap leach" tests start at Dulaan Uul uranium deposit in Mongolia: December 1 saw uranium being mined in Mongolia for the first time in two decades, when Kojegobi LLC, the Mongolian subsidiary of the Areva Group of France, the largest uranium company in the world, started testing underground heap leach *) uranium technology in its Dulaan Uul Project in Dornogobi province. (Mongolia Web News Dec. 10, 2010)
*) in fact, in situ leach tests were conducted [Areva in Mongolia, Areva Oct. 2013]

Areva investigates feasibility of Dulaan Uul uranium deposit: Areva plans to open its first Mongolian mine at Dulaan Uul, if the current production tests provide convincing results. Mitsubishi Corporation holds an option to acquire 34% of the license owner Areva Mongol. (Le Monde Aug. 31, 2010)


Gurvanbulag deposit, Saddle Hills Uranium Project

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Chinese-owned Gurvanbulag uranium project awaiting government approval of environmental report: On March 9, 2015, CNNC International Ltd reported that the Group has made progress in the application of a mining license for its Mongolian uranium mining project. During 2014, the Mongolian project obtained the approval of the relevant department of the Mongolian Government on the feasibility study report of the project.
The principal remaining conditions for the granting of the license are: (i) approval of the environmental report, which was submitted by the Group in late 2014, by the Mongolian Government, and (ii) the setting up of the joint-venture company with the Mongolian Government. It is expected that the Mongolian Government will hold 51% of the Mongolian Project, and the Group will hold 49%, upon issuance of the license.

On July 15, 2009, Western Prospector Group Ltd. reported that it has received notice from the Mineral Resources Authority of Mongolia stating that all of Western's uranium exploration licenses have been suspended for three months due to purported violations of various laws of Mongolia.

CNNC International Ltd, formerly known as United Metals Holdings Ltd, announced on Apr. 15, 2009, that it had decided to acquire Canada-based Western Prospector for about HK$198 million. (China Knowledge Apr. 15, 2009)

On April 14, 2009, Western Prospector Group Ltd. reported that it has received notice from the Mineral Resources Authority of Mongolia ("MRAM") stating that Western's exploration licenses 7685X and 4969X, which are the primary licenses for Western's Gurvanbulag deposit, have been suspended for three months due to violations cited by inspectors from Mongolia's Atomic Energy Agency.

On Mar. 25, 2009, Western Prospector Group Ltd, Mongolia-focused uranium miner, said it agreed to be bought by a unit of Hong Kong-based CNNC International Ltd (Reuters March 25, 2009)

On Jan. 9, 2009, Western Prospector Group Ltd. announced the results of the Gurvanbulag Definitive Feasibility Study. At an assumed selling price of US$ 65.00 per lb U3O8, the mine would only just be feasible. At the current spot market price of US$ 53 per lb U3O8, however, the mine would not be feasible.
> Calculate Mine Feasibility

On Dec. 9, 2008, Western Prospector Group Ltd. announced that it has filed its Environmental Impact Assessment (EIA) for its Gurvanbulag project with the Mongolian Ministry of Nature and the Environment. The EIA was prepared by environmental consultants EcoTrade LLC, an environmental consulting firm based in Ulaanbaatar, Mongolia.

On Nov. 30, 2007, Western Prospector Group Ltd. announced that it has received a positive Preliminary Economic Assessment pertaining to its 100% owned Gurvanbulag uranium deposit located in Mongolia.


Dornod Uran

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Would-be uranium miner Khan Resources Inc. moves on to blockchain processing and cryptocurrency mining:
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Khan Resources Inc. and Mongolia reach settlement on dispute over expropriation of Dornod uranium deposit: Mongolia has settled a dispute over an arbitration award that required it to pay more than $100 million last year to a Canadian miner for revoking a uranium mining license, just as it launches a push this week to attract new exploration interest. The miner - Khan Resources - said in a statement that the government agreed to pay it $70 million by May 15 and to withdraw efforts to annul the award in a French court. (Reuters Mar. 7, 2016)

Khan Resources Inc. asks Canadian government to stop Mongolian aid pending settlement for expropriation of Dornod uranium deposit: A Canadian mining company wants the federal government to suspend millions of dollars in foreign aid to Mongolia until the Asian country pays for taking the firm's uranium mine and giving it to the Russians. The request, made Tuesday (Mar. 2), comes exactly one year after a trade tribunal told Mongolia to give Toronto-based Khan Resources Inc. more than $100 million in compensation for the lost uranium mine, and is the latest gambit in a long-running dispute sparked by Cold War-era geopolitics. (Financial Post Mar. 2, 2016)

Mongolia files to annul arbitration award in favor of Khan Resources Inc. for expropriation of Dornod uranium deposit: On July 15, 2015, Khan Resources Inc. announced that it received notice from the Chief Clerk of the French Court of Appeal in Paris that the Government of Mongolia has initiated an attempt to annul the international arbitration Award rendered in Khan's favour on March 2, 2015 as compensation for the cancellation of Khan's uranium licenses in 2009.

Mongolia not to abide by international arbitration tribunal order to pay Khan Resources Inc. US$ 100 million for expropriation of Dornod uranium deposit: Mongolia signaled on Monday (Apr. 27) it will not abide by an international tribunal's order to pay more than $100 million to Canadian uranium explorer Khan Resources Inc. "The Mongolian government, in order to protect its own interests, will work for the invalidation of the arbitration award," a statement by the justice minister, dated Monday, said. (Reuters Apr. 27, 2015)

International arbitration tribunal awards Khan Resources Inc. US$ 100 million for expropriation of Dornod uranium deposit: Mongolia has been ordered to pay about $100 million to Canada-based Khan Resources Inc as compensation for cancelling its uranium licences in a long-awaited decision from an international tribunal.
Khan Resources took Mongolia to international arbitration four years ago after the government cancelled its licences over the Dornod uranium project in 2009, handing the asset to Russia's ARMZ. Khan had claimed $354 million in compensation, including interest, but the international arbitration tribunal based its calculation of $100 million, including interest and costs, on previous offers made for the Dornod asset. (Reuters Mar. 3, 2015)

Khan Resources commences international arbitration against the Government of Mongolia: On Jan. 10, 2011, Khan Resources Inc. announced that it has formally commenced an international arbitration action against the Government of Mongolia for its expropriatory and unlawful treatment of Khan in relation to the Dornod uranium deposit located in northeastern Mongolia. The Nuclear Energy Agency of Mongolia announced in November 2010 that it would not reinstate the licenses that the Company holds on the Dornod uranium property, but which the Government illegally cancelled so that it could pursue the project without Khan.

Russia and Mongolia signed an agreement on the principals of creating a joint venture to develop the central Asian country's biggest untapped uranium field, the Dornod resource. The agreement was signed in Moscow today by Rosatom Corp., Russia's nuclear power company, Russia's government-run ARMZ Uranium Holding, Mongolia's state-owned KOO MonAtom and the country's nuclear agency. (Bloomberg Dec. 14, 2010)
Russia has ratified an agreement with Mongolia to set up a joint uranium mining company, Dordon [?] Uran, the Kremlin said on Thursday (Jan. 6). (RIA Novosti Jan. 6, 2011)

On Nov. 12, 2010, Khan Resources Inc. announced that the Mongolian Nuclear Energy Agency has published a notice in certain Mongolian newspapers that it does not intend to reinstate Khan's exploration license 9282X and mining license 237A held through its subsidiaries Khan Resources LLC and Central Asian Uranium Company, LLC, respectively.

Khan Resources sues Atomredmetzoloto for interferences in Mongolia uranium projects: Khan Resources Inc has sued Russia's state-owned uranium miner Atomredmetzoloto (ARMZ) in the Ontario Superior Court seeking C$300 million in damages for alleged unlawful interferences in the Canadian explorer's Mongolian operations.
In a statement, Khan alleged that ARMZ and its affiliates interfered in the joint venture between Khan and MonAtom LLC -- Mongolia's state-owned entity -- and sought to eliminate Khan's mining and exploration licenses in the country, to help ARMZ proceed with its own joint venture with the Mongolian firm. Khan has been facing problems from Mongolian authorities with regard to its flagship Dornod uranium project in the country. "ARMZ has made no secret of its desire to acquire control of the Dornod uranium property in Mongolia," Khan's Chief Executive Grant Edey said in the statement. (Reuters Aug. 20, 2010)

Russia seeks uranium mining joint venture with Mongolia on Dornod Uran: The Russian government has introduced into the lower house of the Russian Parliament, the State Duma, an intergovernmental agreement with Mongolia on setting up a joint uranium mining company with limited liability Dordon Uran. The agreement was signed by head of the Russian state corporation Rosatom Sergei Kirienko and head of the Atomic Energy Authority of Mongolia Sodnomyn Enkhbat on August 25, 2009 in Ulan Bator. The product output of the Russian-Mongolian uranium mining joint venture is planned at 2,000 tons per year. The equality founders of the mining venture are Atomredmetzoloto (ARMZ) on the Russian side and MonAtom LLC on the Mongolian side. (RIA Novosti Aug. 14, 2010)

On July 19, 2010, Khan Resources Inc. announced that the Mongolian Capital City Administrative Court has ruled in favour of its 58%-owned joint venture subsidiary, Central Asian Uranium Company, LLC ("CAUC"), and declared that the previous purported decision by the Mongolian Nuclear Energy Agency to invalidate CAUC's mining license 237A is itself invalid and illegal.

On April 13, 2010, Khan Resources Inc. announced that its 58%-owned Mongolian joint venture subsidiary, Central Asian Uranium Company, LLC ("CAUC") and its 100%-owned Mongolian subsidiary, Khan Resources LLC have received notice from the Mongolian Nuclear Energy Agency stating that CAUC's mining license 237A and Khan Mongolia's exploration license 9282X have been invalidated. The invalidations purport to be effective as of October 8, 2009 and purport to be based on a failure by CAUC and Khan to address violations of Mongolian law stemming from a July 2009 report issued by an inspection team appointed by the Mongolian State Specialized Inspection Agency in respect of the Mining License.

Nuclear Energy Authority (NEA) on January 29 announced that a memorandum of mutual understanding signed by Canadian Khan Resources and Mongolian state-owned nuclear resource development company MonAtom LLC is not "legally capable". The memorandum, which NEA considers as "invalid", was signed on January 25 to establish settlements of a joint venture transaction which would finalize the ownership structure surrounding the Dornod uranium project. (UB Post Feb. 2, 2010)

On Jan. 14, 2010, Khan Resources Inc. announced that it was informed by the legal counsel in Mongolia representing the joint venture company Central Asia Uranium Corporation Limited ("CAUC"), that a settlement has been reached with the Mineral Resources Authority of Mongolia whereby the suspension of CAUC's mining license 237A has been terminated.

On Aug. 25, 2009, Russia and Mongolia agreed to launch a uranium mining venture of State-owned firms from both countries to develop the Dornod uranium field in Mongolia's northeast. The 28,000 tonnes of reserves there could potentially be doubled with more exploration, Russia's state nuclear company said. Canadian-listed Khan Resources still owns a 58 percent interest in the mining license to the Dornod deposit, president and CEO Martin Quick told Reuters from Ulan Bator. (Reuters Aug. 25, 2009)

On July 15, 2009, Khan Resources Inc. announced that it was informed by the Mineral Resources Authority of Mongolia ("MRAM") that the mining license 237A of the joint venture company Central Asia Uranium Corporation, Limited, which is one of the two primary licenses for Khan's Dornod uranium deposit, has been temporarily suspended for three months due to alleged violations cited by inspectors from Mongolia's State Inspection Agency on their visit to the Dornod site in mid April, 2009.

On Dec. 4, 2008, Khan Resources Inc. announced that it has signed a Letter of Intent (LOI) with Marubeni Corporation of Japan relating to uranium exploration and mining in Mongolia. The Energy Division of Marubeni is interested in working with Khan on the Mongolian Dornod uranium project.

On Aug. 15, 2007 Khan Resources Inc. announced that it has completed a Pre-Feasibility Study for its Dornod Uranium Project in north eastern Mongolia. The study assumes a uranium price of US$55 per lb U3O8, and a through-put of 3,500 tonnes per day over a 15.5 year mine life, which will give an average annual production rate of 2.9 million lbs U3O8 [1115 t U], at a cost of US$19.99 per lb U3O8 or US$49.21 per tonne of ore. The capital cost of the project is projected to be approximately US$283 million.
The Dornod project implementation schedule is conservatively estimated to be approximately 45 months from the start of the Feasibility Study to the start of plant production. The Feasibility Study is expected to commence in the Fall of 2007, ahead of the negotiations for an Investment Agreement with the Government of Mongolia.

"Mining has commenced at the Dornod uranium mine in Mongolia. The first heap leach pad has been constructed, additional mining equipment is being procured and the leach plant is being fabricated. Plans are progressing for the reopening of the underground mine. Production of yellowcake is projected for mid-1998, initially at an annualized rate of 800,000 pounds of U3O8 per year, rising to at least 2.6 million pounds of U3O8 per year when the underground is in full operation in 1999-2000." (World Wide Minerals, Jan. 7, 1998)
"World Wide Minerals Ltd. announced today that, pending the resolution of the Kazakhstan Government's obligations to WWS and a general strengthening of uranium prices, the Management Committee of Central Asian Uranium Company, Ltd. ("CAUC") has decided to place the Dornod Uranium Project on standby." (World Wide Minerals, Aug. 7, 1998)

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