Ministry makes statement about negotiations Khan Resource

Ulaanbaatar /MONTSAME/ Mongolia's Ministry of Justice made a statement on April 27 regarding the international court of arbitration's order in which Mongolia has been involved as an accused. The statement says,"The Government of Mongolia and Khan Resource company held negotiations on April 21 and 22 to reach a mutual agreement on the matter of responsibility for the Government to pay to the company USD 100 million. Although the Government truly committed to settling the issue in mutually-beneficial and comforting means, the company cancelled the negotiations at the one-party initiative. "This decision has brought inefficient results to both Khan Resource and its shareholders. In spite of the fact that the order has not been officially submitted, the Mongolian Government will take measures to have the court of arbitration's order cancelled and will undertake all necessary works, taking into consideration the current circumstances."