Orano, the French nuclear fuels company, is seeking to increase uranium output from new mines in Mongolia due to ongoing export issues in Niger. The company signed an agreement with Mongolia to develop a significant mining project and is also exploring production expansions in Uzbekistan and Canada. CEO Nicolas Maes emphasized the importance of diversification to mitigate geopolitical risks.
Orano, the French nuclear fuels enterprise, is exploring opportunities to enhance its uranium production from new mines in Mongolia and other regions. This strategy aims to fulfill the increasing demand from the nuclear power sector while compensating for the disruptions in uranium exports from its operations in Niger, which have been affected by the recent military takeover in 2023.
In January, Orano established a preliminary agreement with Mongolia to initiate a mining project that anticipates an output of 2,600 metric tons of uranium annually by 2044. The company is also assessing production expansions in Uzbekistan and Canada, the latter being its largest source of uranium.
According to CEO Nicolas Maes, “We have considerably developed this diversification and that makes us much stronger with regard to geopolitical risk.” This proactive diversification reduces reliance on any single geographic area and fortifies the company’s position against potential geopolitical disruptions affecting uranium supply.
In summary, Orano is strategically positioning itself to boost uranium production through new mining ventures in Mongolia and potentially expanding efforts in Uzbekistan and Canada. This initiative serves to counteract the production challenges faced in Niger, ultimately aiming for greater resilience against geopolitical risks. By diversifying its sources, Orano enhances its ability to meet the rising global demand for nuclear energy.
Original Source: www.channelnewsasia.com
