- Write by:
-
Tuesday, October 8, 2024 - 14:34:45
-
54 Visit
-
Print
A long-delayed, multi-billion dollar uranium project in Mongolia under development by French state-controlled miner Orano SA could start producing the nuclear fuel by 2030, the company said.
Commercial output from the Zuuvch Ovoo mine could begin after five years of construction, pending the signing of an investment agreement, according to Olivier Thoumyre, Orano’s representative in Mongolia. A confirmation vote on the project in the country’s parliament is scheduled for the current legislative session.
Global uranium demand is rebounding as China continues to add plants, while other nations in Europe and Asia prepare to build reactors as part of strategies to curb emissions. If it goes ahead, Zuuvch Ovoo stands to be the largest mining project in Mongolia since the development of the Oyu Tolgoi copper-gold mine led by Rio Tinto Plc, a venture that took decades to bring fully online, including an underground expansion that opened last year.
Mongolia has the possibility of becoming a “major player” in uranium, Thoumyre said at an industry convention in Nalaikh, a town near the capital, Ulaanbaatar. Zuuvch Ovoo has been in development since before 2013, when Areva SA, Orano’s forerunner, formed a joint venture with Mongolia’s nuclear company, Mon-Atom, to develop uranium resources.
The reappointment of Oyun-Erdene Luvsannamsrai as prime minister in July has boosted confidence in policy continuity from the previous administration, which agreed to negotiate with Orano over the mine a year ago. “Discussion never stopped” over terms, Thoumyre said on Thursday.
Short Link:
https://www.miningnews.ir/En/News/629211
France’s Orano SA is boosting uranium mining and processing capacity as supplies of the nuclear fuel tighten on stronger ...
Cameco Corp., one of the world’s top uranium producers, is considering expanding some of its mining projects as global ...
US Vice President Kamala Harris vowed to create a national stockpile of critical minerals, saying a cache of the ...
Shares of Australian uranium miners surged for a second day on Tuesday after Microsoft signed a deal to help resurrect a ...
Boss Energy has welcomed former IGO acting chief executive officer Matt Dusci as its new chief operating officer.
The Chinese government on Wednesday pushed back on a US probe of whether China is helping its neighbor Russia dodge a US ...
Lincoln Minerals has uncovered high-grade uranium mineralisation at its Eridani deposit situated within the eastern Eyre ...
Russia’s war on Ukraine is making it harder for Kazatomprom to keep supplying the West, company CEO Meirzhan Yussupov ...
France’s state-owned nuclear fuel company Orano has selected Oak Ridge, Tennessee as a preferred site to build a ...
No comments have been posted yet ...