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Mongolia’s exports are 90% dependent on natural resource extraction. In October 2023, during a state visit to France, Mongolian President Ukhnaa Khurelsukh signed a landmark agreement that paved the way for a US$1.7 billion investment by French government-owned Orano Mining.
The agreement allows Orano to establish Mongolia’s first uranium mining and processing venture. For Mongolia’s landlocked economy, mining partnerships are strategic tools for foreign policy endeavors.
Uranium has long been a critical mineral for the…