France’s $1.6 Billion Uranium Deal With Mongolia Faces Delays
- French state-controlled Orano plans to develop, operate mine
- Final investment agreement had been expected by end of 2023
Photographer: Daniel Acker/Bloomberg
This article is for subscribers only.
A $1.6 billion uranium mining deal between France and Mongolia that is part of French efforts to diversify supplies to power its fleet of nuclear reactors is running into political hurdles.
A debate about protecting strategic resources in Mongolia risks delaying the finalization of the agreement until after elections in June, according to two people familiar with the matter who asked not to be identified. Progress has also been hampered after the Asian country’s chief negotiator stepped down, a third person said, meaning the deal had to be redrafted.