Details of Khan Uranium Suspension to be Known Soon

16 July 2009 (Last Updated July 16th, 2009 18:30)

Details of the alleged violations that have seen Canada-based Khan Resources’ operating licence of the joint venture company Central Asia Uranium Corporation suspended should be known in coming days, according to Mongolian paper UB Post. The licence was suspended for three months b

Details of the alleged violations that have seen Canada-based Khan Resources’ operating licence of the joint venture company Central Asia Uranium Corporation suspended should be known in coming days, according to Mongolian paper UB Post.

The licence was suspended for three months by the Mineral Resource Authority of Mongolia following an inspection of its Dornod uranium deposit by Mongolia’s State Inspection Agency in mid April 2009, Khan said.

The announcement comes a day after Mongolia suspended Vancouver-based Western Prospector’s uranium exploration licences for three months alleging violation of Mongolian laws.

CAUC, one of the two primary licence holders for the company’s Dornod uranium resource, is 58%-owned by Khan subsidiaries, 21% by Russian company Priargunsky and 21% by the Mongolian Government.