Mongolia signs landmark mining deal with French nuclear giant

Mongolia signed a $1.6 billion investment deal with French nuclear company Orano to develop a uranium deposit in the southwest. The agreement guaranteed Mongolia at least 51 percent of the revenues, ensuring financial benefits for the state.

For Orano, the deal provided 20 years of stability with the possibility of extensions, creating a framework for long-term investment and resource extraction. French officials emphasized the deal’s role in securing France’s energy supply.