The Mongolian parliament approved amendments to the Law on Nuclear Energy during its regular session on November 21, 2024. Amendments to the Nuclear Energy Law were made as part of a uranium mining agreement with the Orano Mining, a company based in the French Republic. The vote to approve the law was held and it was approved with 68.1 percent support.

The Law on Nuclear Energy adopted by The Mongolian parliament in 2009 consists of eight chapters and 51 articles. In total, the Law on Nuclear Energy has been amended fifteen times, resulting in amendments to eight chapters and 38 articles and sections.

With the adoption of the Nuclear Energy Law, there is an opportunity to receive the highest AMNAT. It was approved that the basic AMNAT will be five percent, the special AMNAT will be five percent, and the incremental AMNAT will be nine percent, for a total of 19 percent AMNAT.

There is an opportunity to build nuclear power plants and export products for them by approving the Law on Nuclear Energy. As a result, not only has Mongolia’s economy improved, but it is also paving the way for the implementation of major projects abroad. A great geopolitical opportunity is opening up in Mongolia.