Mon-Atom LLC, a subsidiary of “Erdenes Mongol” SOSC, established “Badrakh Energy” LLC in cooperation with French “Orano Mining” LLC.
“Badrakh Energy” LLC is conducting a research of the Zuuvch-Ovoo uranium deposit in Dornogovi province.
Zuuvch-Ovoo is one of the largest uranium deposits in Mongolia with 93,291 tons of uranium reserves, and testing began in July, 2021.
D.Dalaijargal said, “At first, we are preparing our plant by making research on mining capacity and expenses. It is necessary to ensure the plant works properly, because it cannot be stopped once started. If the plant stops, there will be a lot of losses.
Thus, we will test the plant and estimate profit in the first year. An investment agreement will be concluded after that. The plant test will be completed by the end of 2022. If the investment agreement is successfully concluded, uranium mining will start in Mongolia for the first time. When the plant starts operating, 800-1200 people will be employed.
Mongolia is one of the 16 countries in the world with uranium reserves. Mongolia has 2% of the world's uranium reserves. These countries produce a product called yellowcake during uranium mining. There are only five countries that process the yellowcake into nuclear fuel.
The yellow powder, final product of uranium mining, is not radioactive and it is not harmful to human and animal.
The Feasibility Study for the Zuuvch-Ovoo deposit was approved in 2015, and a mining license was issued the following year, and a deposit development agreement was signed with the Mineral Resources and Petroleum Authority of Mongolia.
In 2018, a cooperation agreement was signed with Zuunbayan bag of Sainshand soum and Ulaanbadrakh soum of Dornogovi province, and the Zuuvch-Ovoo testing building was commissioned in 2019.
34 percent of Badrakh Energy LLC, which is responsible for the research and production of the deposit, is owned by Mon-Atom LLC, the State, and the remaining 66 percent is owned by the French company Orano Mining LLC.
Orano Mining LLC has experience of mining 6529 tons of uranium worldwide in 2020, and it mines uranium in Canada, Nigeria and Kazakhstan. The Zuuvch-Ovoo deposit will use the underground leaching method, which is used by 57 percent of the world's uranium mines.
It is "The new stage in mining development" once the investment agreement is signed and mining begins”.
Mon-Atom LLC, a subsidiary of “Erdenes Mongol” SOSC, established “Badrakh Energy” LLC in cooperation with French “Orano Mining” LLC.
“Badrakh Energy” LLC is conducting a research of the Zuuvch-Ovoo uranium deposit in Dornogovi province.
Zuuvch-Ovoo is one of the largest uranium deposits in Mongolia with 93,291 tons of uranium reserves, and testing began in July, 2021.
D.Dalaijargal said, “At first, we are preparing our plant by making research on mining capacity and expenses. It is necessary to ensure the plant works properly, because it cannot be stopped once started. If the plant stops, there will be a lot of losses.
Thus, we will test the plant and estimate profit in the first year. An investment agreement will be concluded after that. The plant test will be completed by the end of 2022. If the investment agreement is successfully concluded, uranium mining will start in Mongolia for the first time. When the plant starts operating, 800-1200 people will be employed.
Mongolia is one of the 16 countries in the world with uranium reserves. Mongolia has 2% of the world's uranium reserves. These countries produce a product called yellowcake during uranium mining. There are only five countries that process the yellowcake into nuclear fuel.
The yellow powder, final product of uranium mining, is not radioactive and it is not harmful to human and animal.
The Feasibility Study for the Zuuvch-Ovoo deposit was approved in 2015, and a mining license was issued the following year, and a deposit development agreement was signed with the Mineral Resources and Petroleum Authority of Mongolia.
In 2018, a cooperation agreement was signed with Zuunbayan bag of Sainshand soum and Ulaanbadrakh soum of Dornogovi province, and the Zuuvch-Ovoo testing building was commissioned in 2019.
34 percent of Badrakh Energy LLC, which is responsible for the research and production of the deposit, is owned by Mon-Atom LLC, the State, and the remaining 66 percent is owned by the French company Orano Mining LLC.
Orano Mining LLC has experience of mining 6529 tons of uranium worldwide in 2020, and it mines uranium in Canada, Nigeria and Kazakhstan. The Zuuvch-Ovoo deposit will use the underground leaching method, which is used by 57 percent of the world's uranium mines.
It is "The new stage in mining development" once the investment agreement is signed and mining begins”.