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Amended Feasibility Study for the Zuuvch Ovoo and Dulaan Uul Deposits Approved www.montsame.mn
The Mineral Resources Expert Council under the Ministry of Industry and Mineral Resources of Mongolia held its expanded meeting for 2024 on January 16, 2025. At the meeting, the Council approved the technical and economic feasibility study amendment for utilizing the in-situ leach mining method in Zuuvch Ovoo and Dulaan Uul uranium deposits in Ulziit soum, Dornogobi aimag.
The project plans to carry out construction activities from 2025 to 2028, with production operations running from 2028 to 2060, and mine closure and monitoring scheduled for 2060-2070.
Once implemented, the project is expected to produce an average of 2,500 tons of uranium annually. It also plans to allocate USD 329.06 million for mine closure and reclamation, create 795 jobs, attract USD 1.67 billion in total investment, and contribute USD 4.6 billion to the state and local budgets over its duration.
This project is one of the 14 mega projects outlined in the Government’s Action Program for 2024-2028 and represents the second-largest foreign investment agreement signed with a third-neighbor by the Government of Mongolia. In addition to direct economic and social impacts, such as increasing foreign investment, boosting state and local revenues, creating jobs, and introducing new technologies, the project is important for introducing a new type of export-oriented mineral within the mining sector.
Published Date:2025-01-22
