Mongolia opens way for uranium mining with $1.7bn French deal

PARIS -- France and Mongolia have signed a 1.6 billion euro ($1.7 billion) deal that paves the way for the mining of uranium in the landlocked country, the chairman of French nuclear energy provider Orano told Nikkei Asia on Thursday.

Under the framework agreement, Orano will operate the Zuuvch-Ovoo mine in southwestern Mongolia, with the aim of laying a foundation stone next year and beginning production around 2028. Both countries will also cooperate in searching for lithium using satellite imagery.