The
Director of the Nuclear Material Department of the Nuclear Energy Agency,
T.Bayarbayasgalan, hopes the government will be able to take a decision soon on
establishing the proposed Russia-Mongolia joint Dornod Uranium Company. A
working group led by Minister for Foreign Affairs G.Zandanshatar is reviewing
the foreign relations aspects of the issue

The
agency has submitted to the Government a report detailing possible sources of funding
and a review of proposals made by Russia. Many things cannot be decided before
the company is formally established, he said. A third partner was acceptable to
both Russia and Mongolia and “Japan may be a good choice”, he said. Representatives
of Japanese companies such as Marubeni, Mitsui, and Toshiba  have made visits to Mongolia lately and
expressed their interest to cooperate in the sector.

He
told a reporter that Khan Resources, whose uranium licenses have been canceled,
“is a relatively small company and violated several laws”. There is no possibility
of revoking the cancellation. Bayarbayasgalan was confident that the court case
the company has filed against the Agency “will be decided in our favor”.