On December 28th, the Mongolian government announced on Friday that it has reached a preliminary agreement with France’s Olano Mining Group to jointly develop a uranium mining project worth $1.6 billion. The Mongolian government stated that the initial investment for the project is 500 million US dollars, with a total investment of 1.6 billion US dollars. The preparation phase will begin from 2024 to 2027, and it is expected to be put into operation for the first time in 2028.
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