Orano is set to develop a new uranium deposit in Mongolia, following the signing of an investment agreement with the Mongolian government.
The agreement will see the development of the Zuuvch-Ovoo uranium mine, which is found in the Dornogovi province of Mongolia. The mine will be owned and operated by Badrakh Energy, which is a joint venture between the Mongolian-owned MonAtom Group, and Orano.
The operation is expected to have a 30 year lifespan, with average annual production of 2,500 tonnes of uranium (5.5 million pounds) per year. The project is expected to have a four year construction period, with initial capital expenditures pegged at $500 million.
The Zuuvch-Ovoo and Dulaan Uul / Umnut deposits are estimated to contain nearly 90,000 tonnes of uranium.
Information for this briefing was found via the sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
