Western Prospector Ltd.
From Mongol Studies Online Reference
| Western Prospector Group Limited | |
|---|---|
| Type | Limited Liability Company |
| Purpose/focus | Mineral Exploration and Mining |
| Headquarters | Vancouver, Canada |
| Location | Ulaanbaatar, Mongolia |
| CEO SVP Mongolia |
Eric Bohren Dr. Gerald Harper |
| Parent organization | China National Nuclear Corporation |
| Affiliations | Government of China |
Western Prospector Group is a Canadian mining firm focused on exploration and acquisition of mineral deposits with demonstrated potential. The company has focused mainly in Mongolia and currently possesses licenses to the uranium deposits in Saddle Hills, Dornod Aimag.
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[edit] Corporate History
Western Prospector Group Ltd. is a publicly traded company, which began in 2002. The Saddle Hills Uranium Project, currently the firms focal point, was acquired on October 1,2009. On May 12, 2008, Khan Resources Inc. made a take over offer to Western Prospector, which was rejected. In July of the same year, Tinpo Holdings Company, another Canadian firm, announced its takeover of Western Prospector but later withdrew the offer, facing fears of nationalization by the Mongolian government. Legal action by WNP against Tinpo finally was settled in early 2009. In March of 2009, WNP was taken over by the Chinese National Nuclear Corporation for 31 million USD. [1] One month later, on April 14,2009 Western Prospector announced the Mongolian government had suspended its licenses in the country for three months following alleged violations of Mongolian law. [2]
[edit] Ownership
The Saddle Hills Uranium Project is currently owned and operated by Emeelt Mines LLC, a subsidiary of Western Prospector. Western Prospector Group Ltd. was purchased in 2009 by CNNC, a subsidiary of SinoU, the major Chinese state-owned nuclear energy outfit.[3]
[edit] Projects in Mongolia
Western Prospector's main project in Mongolia is the Saddle Hills Uranium Project, in the Dornod Aimag. WNP has 100% ownership of the site, which it regards as one of the top 20 uranium assets in the world.[4]
[edit] External Links
- Official Website
- Western Prospector Saddle Hills Report 2009
- Western Prospector Business Plan Update 2009
- China National Nuclear Corporation Report by Global Security
- CNNC Official Information Site
[edit] References
- ↑ News Releases from Western Prospector's Website. Retrieved on 4.Sep.2009.
- ↑ "Unwelcome surprises for uranium firms." World Nuclear News 26 July 2009.Retrieved on 10.Aug.2009.
- ↑ "Gurvanbulag." Uranium Mine Ownership. WISE Uranium Project. Retrieved on 28 July 2009.
- ↑ Western Prospector Saddle Hills Report 2009
