NUCLEAR ENERGY AGENCY ISSUES STATEMENT

Ulaanbaatar, /MONTSAME/ Nuclear Energy Agency has issued a statement in connection with a press release distributed by the Canadian Company Khan Resources, which concluded a Memorandum of Understanding with Mon Atom LLC of Mongolia last month this year.
The statement says,"The Memorandum of Understanding established between the above-mentioned two companies is designed to put strategic mineral deposits into economic circulation, launch an operation in a deposit in Dornod and to increase and intensify foreign investments in a work of uranium prospect and exploration.
The Nuclear Energy Agency considers that some clauses stipulated in the Memorandum of Understanding violate Mongolian state policies on radioactive mineral resources and nuclear energy and some provisions of the Mongolian Law on Atomic Energy. This document has no binding character for performance and it is impossible to be carried out due to inclusion of some clauses that contradict applicable Mongolian law and policy".
S.Batbayar