License Revocation Challenged

Mining firm Khan Resources has accused the Mongolian government of 'illegal expropriation' of its uranium licenses in the country, and has hired a US law firm to pursue legal action. Earlier the government had invoked a license held by Central Asian Uranium Company , a subsidiary of Khan Resources. Should the claim be successful, we believe that it would damage investor perceptions of business conditions in Mongolia. That said, the fact that Mongolia's business environment remains favourable compared to its regional peers should maintain strong investor interest.

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