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News -
Mining
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Friday, 05 December 2008 06:22 |
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Canadian-based Khan Resources
Inc. (TSX: KRI) has announced the signing of an agreement to develop
uranium deposits in Mongolia with a Japanese firm.
A letter of intent has been
signed with Japan’s Marubeni Corporation to search for and develop
uranium mines in Mongolia. The Energy Division of Marubeni is a multi-national
trading company that invests in oil, gas and uranium.
Marubeni will also participate
in the mining of Khan’s Dornod uranium site.
"We are excited by Marubeni's
interest in Khan's Dornod uranium project and are optimistic about the
positive influence Japanese investors have on the Mongolian mining investment
environment. Marubeni is a world-class player in the commodities trading
arena and we look forward to working together for the mutual benefit
of all stakeholders," Martin Quick, Khan's President and CEO, said
on Thursday.
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