The Profits from the Mongolia-France Joint Uranium Project Will Be Allocated to the Accumulation Fund

Mongolian Prime Minister L. Oyun-Erdene presented to the Speaker of the Parliament the draft resolution concerning a bilateral agreement between the Government of Mongolia and the People’s Republic of China for the construction of the Gashuun Sukhait-Gants Mod border-crossing railway, as well as a proposal to replace the state-owned share and proportion in strategic mineral deposits.

 

These two initiatives are part of the 14 mega-projects outlined in the “Mongolian Government’s 2024-2028 Action Program,” which was approved by Parliament’s Resolution No. 21 in 2024.

 

Once the resolution is approved, investment agreements for utilizing the Zuvch-Ovoo and Dulaan Uul uranium deposits will be finalized, and the Mongolia-France Joint Uranium Project will proceed.

 

The majority of the profits from the Zuvch-Ovoo and Dulaan Uul uranium projects will be directed to Mongolia. Discussions are underway regarding replacing the state’s share with a 10% state-owned preferential share and a special fee for resource utilization.

 

As a result, the special fee from the Mongolia-France Joint Uranium Project will be allocated to the Accumulation Fund. Since the establishment of the Sovereign Wealth Fund, approximately 480 billion MNT has been accumulated in the fund.