Areva, MON-ATOM to develop uranium mines in Mongolia
Areva has signed an agreement with Mongolian state-owned nuclear company MON-ATOM to create joint venture company Areva Mines. Under the terms of the agreement, Areva will own 66% and MON-ATOM will acquire 34% in Areva Mines and will develop uranium mines in Mongolia.
An agreement to acquire an equity interest in Areva Mines has also been signed by Mitsubishi.
Commenting on the agreement Areva president and CEO Luc Oursel said the agreement is strategic on two levels and also involves partner Mitsubishi.
"It will enable us to develop the uranium sector in Mongolia and to pursue the geographic diversification of AREVA's mining activities," Oursel added.
Till date, Areva performed exploration work, which resulted in the discovery of two uranium deposits in the province of Dornogobi, Dulaan Uul and Zoovch Ovoo with resources estimated at 60,000 tonnes.
An agreement to acquire an equity interest in Areva Mines has also been signed by Mitsubishi.
Commenting on the agreement Areva president and CEO Luc Oursel said the agreement is strategic on two levels and also involves partner Mitsubishi.
"It will enable us to develop the uranium sector in Mongolia and to pursue the geographic diversification of AREVA's mining activities," Oursel added.
Till date, Areva performed exploration work, which resulted in the discovery of two uranium deposits in the province of Dornogobi, Dulaan Uul and Zoovch Ovoo with resources estimated at 60,000 tonnes.
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