France’s Orano Group has partnered with Mongolia’s government to develop the Zuuvch-Ovoo uranium mine, a $1.6 billion project in Dornogovi province. The agreement, signed in Ulaanbaatar, signifies a step forward for Mongolia’s mining sector and global low-carbon energy goals. Orano, in collaboration with Mongolia’s MonAtom Group, will oversee operations through their joint venture, Badrakh Energy.
The mine, with an estimated 90,000 tonnes of uranium reserves, will leverage in-situ recovery methods. An initial $500 million investment will lead to production starting in 2028, creating 1,600 jobs and boosting Mongolia’s economy. With a projected output of 2,500 tonnes annually over 30 years, the project aligns with Mongolia’s Vision 2050 goals.
Orano CEO Nicolas Maes emphasized the mine’s role in promoting low-carbon energy. Prime Minister Oyun-Erdene Luvsannamsrai celebrated the partnership as a milestone for economic growth and international collaboration, strengthening ties between Mongolia and France.
