Investment Agreement on Mongolia-France Uranium Project Signed
Politics
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.