Launch of the Mongolia–France Uranium Project

Claude Imauven, Chairman of the Board of Directors of Orano, and Sanjaagiin Narantsogt, CEO of Erdenes Mongol LLC, sign the protocol in the presence of Mr. Emmanuel Macron, President of the French Republic and of Mr. Ukhnaagiin Khürelsükh, President of Mongolia. (Photo from the website of Orano).

With a 25-year presence in Mongolia, Orano has built strong and lasting ties in the country. In 2021 and 2022, the company successfully deployed an industrial pilot at the Zuuvch-Ovoo site, confirming the economic, environmental, and societal feasibility of the project. This initiative is led by Badrakh Energy, a joint venture between Orano Mining and MonAtom, Mongolia’s state-owned mining company.

A major milestone was reached on October 12, 2023, with the signing of a Protocol for the development and operation of a uranium mining project in Mongolia. The ceremony took place at the Elysée Palace in Paris, in the presence of French President Emmanuel Macron and Mongolian President Ukhnaagiin Khürelsükh. This Protocol laid the foundation for an investment agreement that was officially signed on January 17, 2025.

Over the next 30 years, the project is expected to:

• Produce up to 2,500 tons of uranium annually

• Generate over $1 billion USD in tax revenues

• Create more than 1,000 local jobs

• Attract a total investment of $1.6 billion USD

In addition to uranium production, feasibility studies are underway to explore the potential for constructing a nuclear power plant in Mongolia. This would further strengthen the country's energy independence and contribute to global climate objectives.