Mon-Atom LLC
From Mongol Studies Online Reference
| Mon-Atom LLC | |
|---|---|
| Formation | February 11, 2009 |
| Type | Limited Liability Company |
| Purpose/focus | Nuclear Energy |
| Headquarters | Ulaanbaatar, Mongolia |
| CEO Director |
Mr. R Badamdamdin Tsogtsaikhan Gombo |
| Parent organization | Ministry of Mineral Resources and Energy |
| Affiliations | Government of Mongolia |
Mon-Atom LLC is the Mongolian state-owned nuclear energy company charged with handling uranium exploration, development, exploitation and processing in Mongolia.[1] It was founded in the wake of international interest regarding Mongolia's significant uranium reserves as a way of managing and maintaining Mongolia's interests in its domestic natural mineral resources. The company is also charged with Mongolia's operations in the nuclear energy industry, including the development of a domestic nuclear energy capability, as well as in Mongolia's alternative energy industry, including solar, wind and bio-energy. [2]
Contents |
[edit] Corporate History
Mon-Atom LLC was founded on February 11, 2009 and on June 3, 2009 became subsidized by the Mongolian government through Resolution 45 of the Government of Mongolia. This resolution also set up a 100 million MNT fund for the previously unfunded company. As of June 3, 2009 Mon-Atom still lacked an actual office space. However, since the company's outset several foreign companies have already either conducted negotiations or expressed interest in conducting negotiations with Mon-Atom. These include Japan's Mitsui and Marubeni as well as Russia's Rosatom. [3]
[edit] State Control
Mon-Atom LLC is directly under the jurisdiction of the Nuclear Energy Agency and the State Property Commission as a fully state owned business entity. [4] Its charged with representation and realization of state interests in the alernative and nuclear energy industry, as well the handling of business operations with regard to Mongolia's nuclear and alternative energy resources. [5]
[edit] Current Projects
Mon-Atom recently signed a joint agreement with Russia's state owned counterpart Rosatom to jointly develop the Dornod project in Eastern Mongolia, currently owned by the Canadian firm Khan Resources Ltd..[6] This is the first major uranium deal Mongolia has signed with an international entity. It is expected that Mon-Atom and Rosatom will split ownership and responsibility for the mining project in half. [7]
[edit] References
- ↑ R. Badamdamdin. "Interview with Monatom LLC Director." Interview. Mining.mn. Retrieved on 20.Aug. 2009.
- ↑ Gombo, Tsogtsaikhan. "PERSPECTIVES OF NUCLEAR ENERGY DEVELOPMENT IN MONGOLIA." Speech. 4th USA – Mongolia Business Forum. Washington DC. 9 June 2009. Export.gov Mongolia Policy Initiatives. United States Government. Retrieved on 1 Sept. 2009.
- ↑ Amarsanaa. "Mon-Atom will be subsidized." Business Mongolia. Web. 1 Sept. 2009.
- ↑ R. Badamdamdin. "Interview with Monatom LLC Director." Interview. Mining.mn. Retrieved on 20.Aug. 2009.
- ↑ Gombo, Tsogtsaikhan. "PERSPECTIVES OF NUCLEAR ENERGY DEVELOPMENT IN MONGOLIA." Speech. 4th USA – Mongolia Business Forum. Washington DC. 9 June 2009. Export.gov Mongolia Policy Initiatives. United States Government. 1 Sept. 2009.
- ↑ "Nuclear Gazumping in Mongolia." Your Nuclear News. Retrieved on 26 Aug. 2009.
- ↑ "Mongolia picks Rosatom for Uranium Mine." Resource Investor. Moscow Times, Retrieved on 25 Aug. 2009.
