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Orano looks to Mongolia as new source for uranium as Niger problems drag on www.reuters.com
French nuclear fuels company Orano is looking to increase output of uranium from new mines in Mongolia and elsewhere to meet rising demand from the nuclear power industry and offset production from its stalled projects in Niger, said CEO Nicolas Maes.
Orano has had problems exporting uranium from its mines in Niger since the country was taken over by a military junta in 2023.
In January, it signed a preliminary agreement with Mongolia to develop a mining project with potential output of 2,600 metric tons a year by 2044.
It is also looking at expanding output in Uzbekistan as well as Canada, its top source of the material, Maes told journalists.
"We have considerably developed this diversification and that makes us much stronger with regard to geopolitical risk," he said.
Reporting by Forrest Crellin. Editing by Jane Merriman
Published Date:2025-02-19
