Khan Resources has announced that the legal counsel in Mongolia representing the joint venture company Central Asia Uranium Corporation Limited (CAUC) has said that a settlement has been reached with the Mineral Resources Authority of Mongolia whereby the suspension of CAUC”s mining license 237A has been lifted. The mining license is one of the two primary licenses for Khan’s Dornod uranium deposit, and its reinstatement was a prerequisite to re-registration of the license under the Nuclear Energy Law. CAUC is a joint venture between one of Khan’s wholly owned subsidiaries (58%), the Russian company JSC Priargunsky (21%), and the Government of Mongolia (21%).

Calling this “very good news for the project”, Martin Quick, President & CEO of Khan said the company would continue “efforts to reach mutually satisfactory arrangements with the Government of Mongolia”.