Areva invited Mitsubishi to participate in the development of the assets, with the possibility of acquiring 34% of Areva Mongol over time.
Through the joint efforts, Areva and Mitsubishi are expected to create value in the exploration and future exploitation of Mongolian uranium resources based on their capabilities and sustainable development practices.
In exchange for a proportional contribution to Areva’s past and future expenditures in Mongolia, Mitsubishi will be granted right to acquire 34% of the equity capital of Areva Mongol. Areva Mongol has been conducting exploration activities in Mongolia for more than 10 years. Areva currently holds 36 uranium exploration licenses on more than 14 000sqkm in both the Dornogobi and Sukhbaatar provinces.
Among the different areas to be explored, the Dornogobi Province has demonstrated a high potential for uranium. This zone is the primary target with respect to a future exploitation. Future drilling campaigns will be dedicated to identify new possible uranium resources, Areva said.
