An important milestone in mine project development is reached!

April 10, 2015

An important milestone in mine project development is reached!

The feasibility study for mining, using the In-Situ Recovery (ISR) method, and processing the ore from the Dulaan Uul and Zuuvch Ovoo uranium deposits was presented on February 4, 2015 at the plenary session of the Professional Minerals Council of Mongolia.

The feasibility study report was prepared by Glogex, an independent Mongolian engineering firm providing geology and mining consulting services. The report includes a range of technical, environmental, legal, economic and financial detailed studies to determine the effective and profitable mining of the deposits.

Following the February 4 session, the Feasibility Study was officially accepted by the Mineral Resource Authority of Mongolia on March 19, 2015.

Frédéric Guerin, Project Director, said: «The approval of the feasibility study is a very important stage for the AREVA project in Mongolia. This feasibility study, of more than 800 pages, comprises the mining of two uranium deposits – Dulaan Uul and Zuuvch Ovoo discovered and registered by Cogegobi. Our company applied for the mining licenses on these deposits in 2011 and 2014. The decision to be made by the National Security Council is crucial for AREVA project. In this regard, the approval of the Feasibility study is very important. AREVA Mongol is confident to successfully develop its joint uranium project with the Mongolian government and its Japanese partner».