The junior miner claims the Department of Antioquia's mining authority did not process its exploration application in accordance with the country’s mining code.
Energy and Minerals chief executive Alan Davies said he would take the mining giant to court over his dismissal, adding there were “no grounds” for his termination.
Erdenes Tavan Tolgoi (ETT), the state-owned company that holds the license to the deposit, has already begun evaluating bids and calculating the potential economic benefits of restarting it.
INTERACTIVE: Nuclear electricity output set to grow at fastest clip in over 20 years increasing annual uranium supply needs by more than 100 million pounds.
Attempts to rescue trapped miners after a fire in a Turkish mine continue Thursday morning after a break of four hours. So far there are at least 282 people dead and 142 remain unaccounted for.