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Mongolia retracts announcement of uranium project deal with France's Orano

Published by Global Banking & Finance Review

Posted on December 27, 2024

1 min read

· Last updated: January 27, 2026

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Mongolia Withdraws Uranium Deal Announcement with Orano

BEIJING (Reuters) - Mongolia has not agreed to a deal with French miner Orano Mining Group on a proposed uranium project, the government said on Friday, retracting an announcement made about 20 minutes earlier that a $1.6 billion deal had been reached.

The Mongolian government later said that a draft agreement with Orano was submitted to parliament for preliminary discussion.

(Reporting by Beijing Newsroom; Editing by Jason Neely and David Goodman)

Key Takeaways

  • Mongolia retracts uranium deal announcement with Orano.
  • Initial announcement claimed a $1.6 billion agreement.
  • Draft agreement submitted to Mongolian parliament.
  • No final deal reached with Orano Mining Group.
  • Mongolian government clarifies earlier statement.

Frequently Asked Questions

What is the main topic?
The main topic is Mongolia's retraction of an announcement regarding a uranium project deal with France's Orano Mining Group.
Why was the announcement retracted?
The announcement was retracted because the deal was not finalized; a draft agreement was submitted to the Mongolian parliament for discussion.
Who is Orano Mining Group?
Orano Mining Group is a French company involved in mining activities, including uranium extraction.

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