FUEL & FUEL CYCLE | MONGOLIAN URANIUM
Right: Could Mongolia emerge as a new source of uranium to rival countries like Niger? Source: Orano
Mongolia to find new deposits and support additional
production. The Mongolian Government’s 2024-2028 Action programme states that the Mongolian-French joint uranium project will be implemented along with a foundational study for constructing a nuclear power plant in Mongolia. CEO of State-owned Mon-Atom LLC, D. Dalaijargal,
also highlighted other measures designed to increase exploitation of Mongolia uranium reserves, saying: “Aside from France, we are actively expanding collaboration with the Czech Republic, China, Russia, and Kazakhstan. Notably, in partnership with the Czech Republic, we are preparing to develop three deposits in Dundgovi province, and one in Sukhbaatar province. This is set to be our next major project.”
He added: “For the last two years, Russia has been making offers to our country. The real manifestation of this is that the Russian company Rosatom opened a representative office in our country last year. We are talking about opening an exploration company this month”. The latest industry development is that the 4th meeting of the Joint Working Group between the Department of Atomic Energy, Government of India and the Nuclear Energy
Commission, Government of Mongolia was held on June 09, 2025. According to the outcomes of this meeting, India will also
explore opportunities for cooperation in the mining and export of uranium and rare earth elements in Mongolia. The parties agreed to actively cooperate in strengthening the capacity of the nuclear energy sector through short and long-term training programs in India. Given current projections for growth in nuclear
generation across conventional light water reactors and emerging technologies like SMRs and advanced reactors, it is clear that global uranium demand will also increase. In this scenario the uranium price, which has already soared over recent years, is anticipated to surge to even greater heights. If Mongolia could ultimately supply 2500 tonnes of uranium annually, that would account for just 3% of the total global uranium supply by 2030. However, although this is a relatively small volume in terms of the global market, this does represent further supply chain diversity and would also make a substantial financial contribution to the Mongolian economy by further developing its significant mineral resources. ■
Right: Mongolia has substantial mineral resources, including large uranium deposits
18 | August 2025 |
www.neimagazine.com
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