Mongolia to Start Uranium Exploration by 2012

Mr Batbold Sukhbaatar PM of Mongolia has announced plans to initiate national uranium exploration by the year of 2012, part of an ambitious series of projects in Mongolia along with the Oyu Tolgoi and Tavan Tolgoi developments. Extraction of uranium is projected to start from 2013 or 2014.

The announcement stated that 107 prospecting licenses were issued to seventeen businesses that will perform prospecting works according to the Mongolian Nuclear Energy Law and under strict supervision of the Government. Feasibility studies have been proposed for the Mardai deposit in the Dornod province and the Kharaat deposit in the Central Gobi province.

Mongolia, like Kazakhstan, joined the International Atomic Energy Agency in 1993 having met the safeguard standards according to the Nuclear Non Proliferation Treaty. In 2000, a law banning nuclear weapons was passed, and in May 2003, a reinforcing Additional Protocol in line with IAEA standards was added to its safeguard procedures.

Mr Noah Glassco Move One’s Country Manager for Mongolia said that “With our strong logistical bases in the heart of Europe, our dedicated staff on the ground in Mongolia and our extensive experience handling and transporting sensitive and high value material across the Eurasian continent we are uniquely positioned to assist the development of the Mongolian uranium industry.”

(Sourced from moveoneinc.com)