Mongolia's High-Stakes Uranium Mining Game

Timing couldn’t be better. Rising uranium demand, driven by a nuclear resurgence and geopolitical pressures, strengthens Mongolia's uranium mining bargaining position.

With the nuclear energy law amendments made in November 2024 Mongolia is signalling a sophisticated attempt to unlock its uranium potential while safeguarding national interests.

These changes set the stage for a $1.7 billion uranium project with France’s Orano Group—a deal long stalled since its protocol signing in late 2023.

U308 as known as yellow cake

With parliamentary approval secured, the final agreement could be ready before the Lunar New Year in 2025, although parliamentary hurdles remain. The new legislation introduces several significant changes.

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