Investment Agreement on Mongolia-France Uranium Project Signed

Ulaanbaatar, January 17, 2025 /MONTSAME/. On January 17, 2025, the Government of Mongolia and the “Orano Mining” Company of the French Republic signed an Investment Agreement to collaborate on a uranium project.

Representing the Mongolian side were Chief of the Cabinet Secretariat of the Government of Mongolia Uchral Nyam-Osor, Minister of Finance of Mongolia Javkhlan Bold, Minister of Industry and Mineral Resources of Mongolia Tuvaan Tsevegdorj, and CEO of “Erdenes Mongol” LLC Narantsogt Sanjaa. Minister Delegate for Foreign Trade and French Nationals Abroad Laurent Saint-Martin, CEO of “Orano” Group Nicolas Maes, CEO of “Orano Mining” Xavier Saint-Martin-Tillet, and CEO of Badrakh Energy Marc Meleard represented the French side.

After signing the Agreement, Prime Minister of Mongolia Oyun-Erdene Luvsannamsrai and Minister Delegate for Foreign Trade and French Nationals Abroad Laurent Saint-Martin delivered remarks.

Prime Minister Oyun-Erdene highlighted, “This Agreement is the second major investment agreement the Government of Mongolia has signed with a third-neighbor. The Investment Agreement with the “Orano Mining” Company will increase foreign investment, boost state and local budgets, create numerous jobs, introduce new technology in Mongolia, and expand Mongolia’s cooperation with the international community. Beyond its direct social and economic impacts, this Agreement will also serve as a model for future investment agreements in the mining and minerals industry.”

Minister Delegate for Foreign Trade and French Nationals Abroad Laurent Saint-Martin noted, “Today, we are signing a historic agreement enriched with new content and vigor. The Zuuvch-Ovoo deposit is one of the ten largest uranium deposits in the world. Indeed, this deposit will make Mongolia a new and major player in the global uranium market. It will also accelerate the economic and social development of Dornogobi aimag and Mongolia as a whole.”

Deputy Prime Ministers of Mongolia Dorjkhand Togmid and Amarsaikhan Sainbuyan, and other officials attended the Signing Ceremony of the Investment Agreement between the Government of Mongolia and the “Orano Mining” Company of the French Republic.