French Areva Signs an Agreement with Mon Atom LLC

Oct 28 • Energy, Featured • 8245 Views • No Comments on French Areva Signs an Agreement with Mon Atom LLC

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Few days ago, we learned that diplomatic passport holders of Mongolia will be waived of visa requirements when entering France. These arrangement was signed during the visit of  French Foreign Minister Laurent Fabius.

Today, we have learned that another agreement was signed between state-owned Mon-Atom LLC and Areva corporation. Mon-Atom LLC has an exclusive right to explore, operate, develop uranium deposits, and furthermore export it. The joint company will have 34% belonging to the state, 66% to Areva and Mitsubishi Corporation will have an equity interest.

Mongolian public was against using uranium deposits as it was revealed the fact how poisonous and damaging it could be for the environment. Nevertheless, in the long-term, Mongolia is pursuing to become an energy exporter in the region using coal fired CHPs and windfarms. Before it becomes an exporter, it will need to solve own electricity deficit problems, that it imports high priced energy from Russia.

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