Mongolian Prime Minister Luvsannamsrain Oyun-Erdene and French President Emmanuel Macron, in Ulaanbaatar, May 21, 2023. LUDOVIC MARIN/AFP Mongolia announced, Friday evening, December 27, that it had reached a preliminary agreement with the French group Orano for the exploitation of a uranium mine which is due to enter production in 2028. The agreement is described as “preliminary”, because it still has to be approved by the Mongolian Parliament, but it is an important step forward, both for this country landlocked between China and Russia which is seeking a diplomatic “third way” and wants to reduce its dependence on coal extraction and for France, in quest for fuel to secure the supply of its nuclear power plants. Read also | Article reserved for our subscribers In Mongolia, a democratic system stuck between two authoritarian superpowers Read later “This agreement is a significant step to accelerate investment and employment opportunities for the Mongolian people, commented the Prime Minister, Luvsannamsrain Oyun -Erdene. It also highlights our commitment to working with our ‘third neighbors’,” he said, referring to Ulaanbaatar’s efforts to reach out to Europe, the United States, South Korea and the Japan to escape the control of Moscow and Beijing. The agreement provides for an investment worth 1.6 billion dollars (1.5 billion euros), the second largest foreign investment in the country, after the Oyou Tolgoï copper and gold mine. It plans preparatory work until 2027, then uranium production from 2028 to 2060, the value of which could amount to $13.4 billion. Orano has not confirmed these announcements. You have 62.05% of this article left to read. The rest is reserved for subscribers.
Author : News7
Publish date : 2024-12-29 13:50:55
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