AREVA forms joint venture for uranium mining in Mongolia

28 October 2013

AREVA has signed an agreement with Mongolian state-owned nuclear company MonAtom to develop uranium mines in Mongolia.

The companies have set-up a joint venture AREVA Mines LLC, which is 66% owned by AREVA and 34% owned by MonAtom. An agreement for Mitsubishi Corporation to take an equity interest has also been signed, AREVA said.

AREVA has been carrying out uranium exploration activities in Mongolia since 1997. Resources at two uranium deposits in the provinces of Dornogobi, Dulaan Uul and Zoovch Ovoo, are estimated at 60,000 tonnes, AREVA said.

Commenting on the agreement AREVA president and CEO Luc Oursel said it would enable AREVA to "develop the uranium sector in Mongolia and to pursue the geographic diversification of AREVA's mining activities."

Mr. Oursel was present for the signing ceremony together with Mr. Ken Kobayashi, president and CEO of Mitsubishi Corporation, and the French and Mongolian foreign affairs ministers.

Yellow cake, AREVA ore processing (Source: AREVA, LESAGE PHILIPPE)

Privacy Policy
We have updated our privacy policy. In the latest update it explains what cookies are and how we use them on our site. To learn more about cookies and their benefits, please view our privacy policy. Please be aware that parts of this site will not function correctly if you disable cookies. By continuing to use this site, you consent to our use of cookies in accordance with our privacy policy unless you have disabled them.