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Home > Industry News > New progress in uranium mine development in Mongolia
2021-11-17
Badrakh Energy LLC is conducting a detailed study of the Zoovch-Ovoo uranium deposit in Eastern Gobi Province, Mongolia, according to Mongolian website https://gogo.mn/r/jnqdj. The company is a joint venture between Mon-Atom LLC, a subsidiary of Erdenes Mongol, and France's Orano Mining.
Mongolia is one of the countries rich in uranium resources in the world. Zhuzhanao Is one of Mongolia's largest uranium deposits, with uranium reserves of 93,291 tons. A feasibility study for the deposit was approved in 2015, a mining license was issued the following year, and an agreement to develop the deposit was signed with Mongolia's Bureau of Minerals and Petroleum. In 2018, a cooperation agreement was signed with the local Sumu (administrative division unit) of East Gobi Province. In 2019, the construction of production test facilities was completed. Production testing began in July 2021 and will be completed by the end of 2022. An investment agreement will be signed after the plant is tested and profits estimated. At that time, if the investment agreement is successfully signed and mining begins, uranium mining in Mongolia will start for the first time and the project will last 35 years.
Badrak Energy Co. Ltd. is responsible for exploration and production of the deposit, while Mongolia Atomic Energy Co. Ltd. owns 34 percent and France's Oannon Group owns 66 percent. France's Oano group mined 6,529 tons of uranium globally in 2020, with operations in Canada, Nigeria and Kazakhstan.
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