Mongolia signs Investment Agreement with Orano in a historical move
The Government of Mongolia is signed the investment agreement today for a significant uranium mining project executed by the Mongolian-French joint venture Badrakh Energy LLC in partnership with Orano Mining, a prominent company registered in the Republic of France. This marks the Government of Mongolia’s second major investment agreement concluded with an international partner. Government officials have highlighted that the signing of this agreement will be a substantial catalyst for attracting future foreign investment and will establish an important precedent for subsequent agreements in the mining and minerals sector.
As part of the agreement, Orano Mining is committed to an initial investment of $400M USD. Construction and production are scheduled to commence by 2028, with uranium to be extracted using underground leaching technology.
This collaboration underscores the growing potential of Mongolia's mining sector and its appeal as a destination for international investment.
Source: Bloomberg TV Mongolia