Mongolia announces the preliminary agreement with Orano Mining Group

The Mongolian government has announced a preliminary agreement with France’s Orano Mining Group to launch a long-anticipated $1.6 billion uranium mining project. This groundbreaking collaboration is set to boost Mongolia’s economy and create significant employment opportunities.
Preparatory work begins in 2024, with first production expected in 2028. The investment is estimated at $500 million as an initial investment; and $1.6 billion as the total projected. The investment should result in the production of approximately 2,600 metric tons by 2044.

Sustainable resource development

Mongolian Prime Minister Oyun-Erdene Luvsannamsrai emphasized the agreement’s potential to attract foreign investment and enhance job opportunities, showcasing Mongolia’s commitment to global partnerships and sustainable resource development. He has stated: “This agreement is a significant step forward in boosting inward investment and employment opportunities for the Mongolian people,”

This collaboration represents a leap forward in Mongolia’s mining sector and signals a bright future for its role in global energy production.