Canadian Mining Executive Found Dead in Mongolia
A Canadian mining executive in Mongolia trying to enforce a judgement of more than $100 million against the government for expropriation has been found dead in his hotel room, authorities said Friday.
Jim Doak was chairman of uranium miner Khan Resources, a TSX-listed firm whose licences in the Dornod region were cancelled by Ulan Bator in 2009. The deposit is now operated by Russia's state-owned ARMZ Uranium Holding Co.
Last month, an international arbitration tribunal in Paris awarded Khan Resources a $103.8 million settlement after arbitration proceedings against the Mongolian government, the company said.
Doak, 59, arrived in Mongolia Sunday for meetings about the ruling and police said he was found dead in his hotel room on Thursday.
There was no immediate suspicion of foul play, a police spokesman added, with preliminary analysis showing no signs of visible trauma.
The dispute is one of several high-profile rows between the government and international mining firms which have soured the mineral-rich country's image as an investment-friendly destination.
A mining boom saw Mongolia's GDP growth skyrocket to a world-leading 17.5 percent in 2011, but it has since fallen back dramatically and authorities are now trying to restore its reputation.
Source: Agence France Presse
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