Source: The Mongolian Mining Journal              Date: 15 June, 2011

Mon-Atom Deputy Director G.Tsogtsaikhan has said foreign companies and nations interested in investing in the uranium sector as a partner of Mon-Atom see the 2009 law that governs its operations as “daylight robbery”. They have suggested an amendment to the law as it stands as these “do not accord with the ways of the world market”.  Their main grouse is that it gives the Mongolian State free ownership of between 34-51 per cent share in all companies in the nuclear sector.

Mr. Tsogtsaikhan says Mon-Atom has not made much progress because of this and also because it has neither the financial capital nor skilled professional people to do anything on its own, while foreign partners are loath to come. “The law has given us the responsibility to produce nuclear fuel for use in the nuclear power station, but with no manpower, no active uranium mining, and no processing plant, we have to proceed from scratch,” he has said.