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

    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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    New French government unveiled amid budget challenges - Global Banking & Finance Review
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    Quick Summary

    Mongolia retracts its announcement of a $1.6 billion uranium deal with Orano, clarifying that a draft agreement is under parliamentary review.

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

    1What 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.

    2Why 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    The announcement was retracted because the deal was not finalized; a draft agreement was submitted to the Mongolian parliament for discussion.

    3Who is Orano Mining Group?

    Orano Mining Group is a French company involved in mining activities, including uranium extraction.

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