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Hebei Ladery Import & Export Co., Ltd. [Hebei,China] Business Type:Manufacturer , Trade Company Main Markets: Africa , Asia , Caribbean , East Europe , Europe , Middle East , North Europe , Oceania , Other Markets , West Europe , Worldwide Exporter:61% - 70% Certs:ISO9001, CE

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Home > News > France's Orano Group is spending 1.6 billion euros to develop uranium deposits in Mongolia

France's Orano Group is spending 1.6 billion euros to develop uranium deposits in Mongolia

2023-11-03

French mining group Orano has signed a framework agreement to spend 1.6 billion euros to develop the Zuuvch Ovoo uranium project in Mongolia. The project will be developed by Badrakh Energy, a joint venture between Orano Mining and Mongolian state-owned company Mon Atom, with production expected to begin in 2028. According to S&P Global Market Intelligence data, Zuuvch Ovoo is Mongolia's largest uranium asset, valued at $8.59 billion, and the project contains 172 million pounds of uranium. In addition, France has also signed an agreement to invest €400,000 to carry out a prospective evaluation of lithium resources in Mongolia.

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