Khan Resources Says Govt. Of Mongolia Appoints Arbitrator For Intl. Arbitration

(RTTNews) - Khan Resources Inc. (KRI.TO: News ) said that the Government of Mongolia appointed its arbitrator for the international arbitration proceeding commenced in January, 2011. The two appointed arbitrators would now select a third arbitrator to preside over the arbitration tribunal. The procedure is expected to take upwards of 30 to 45 days.

As announced on January 10, 2011, Khan formally commenced an international arbitration action against the Government of Mongolia for its expropriatory and unlawful treatment of Khan in relation to the Dornod uranium deposit located in northeastern Mongolia. The claim seeks over $200 million in compensation for losses and damages.

Source:RTTNews