On January 17, the government of Mongolia and the French company “Orano Mining” signed an agreement to jointly produce uranium, according to the press service of the Mongolian government, as reported by “Adyrna.”
Under the project, it is planned to produce 68.9 thousand tons of uranium. During the negotiations, the French side expressed its intention to invest a total of $1.6 billion.
Mongolia’s Prime Minister Oyun-Erdene noted that this agreement is the second major investment contract made with the country’s “third neighbor.”
“This agreement will have a direct impact not only on society and the economy but also on increasing foreign investments, state and regional budgets, creating numerous jobs, introducing new technologies, and expanding international cooperation,” he said.
It is expected that Mongolia will earn approximately $5 billion from the project. Additionally, $44 million will be directly allocated to a local development fund aimed at supporting local communities, education, healthcare, and social development.
