{"id":88935,"date":"2024-12-30T00:00:00","date_gmt":"2024-12-30T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2024\/12\/30\/mongolia-and-orano-ink-usd-1-47-bn-uranium-agreement\/"},"modified":"2024-12-30T00:00:00","modified_gmt":"2024-12-30T00:00:00","slug":"mongolia-and-orano-ink-usd-1-47-bn-uranium-agreement","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2024\/12\/30\/mongolia-and-orano-ink-usd-1-47-bn-uranium-agreement\/","title":{"rendered":"Mongolia and Orano ink USD 1.47 bn uranium agreement"},"content":{"rendered":"

Mongolia and Orano strike a USD 1.6 bn uranium agreement: <\/strong>Mongolia has reached a preliminary agreement with France\u2019s Orano Mining Group to develop a USD 1.6 bn uranium mining project, Reuters<\/a> reported on Friday. The project will begin its preparatory phase in 2024 and is expected to start production in 2028, with peak output reaching 2.6k metric tons by 2044. <\/p>\n

About the company:<\/strong> Orano Group<\/a> is a France-based multinational company specializing in nuclear fuel lifecycle. A major uranium producer, the company operates in 17 countries and is active in uranium mining, conversion, enrichment, and recycling. <\/p>\n

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JSW Energy to expand with USD 1.47 bn green acquisition:<\/strong> Indian JSW Energy<\/a> \u2019s unit JSW Neo Energy will acquire the India-based renewable energy platform O2 Power<\/a> for USD 1.5 bn, according to a statement<\/a> on Friday. The agreement \u2014 set to be finalized by May 2025 \u2014 includes a 4.7 GW renewable energy portfolio, with 2.3 GW to be operational by June 2025 and the rest by June 2027, Reuters<\/a> reported. O2 Power is backed by Singapore's Temasek<\/a> and Sweden\u2019s EGT Infrastructure<\/a> and specializes in utility-scale and industrial sector projects, spanning solar, wind, battery storage, and hybrid energy technologies. <\/p>\n

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China greenlights world\u2019s largest hydro dam:<\/strong> China has approved the construction of the world\u2019s largest hydropower dam on the Yarlung Zangbo River, located on the eastern edge of the Tibetan plateau, Reuters<\/a> reported last week. The project, which could produce 300 TWh of electricity annually, would be more than triple the capacity of China\u2019s Three Gorges Dam, currently the largest in the world.<\/p>\n

The dam sparks regional concerns:<\/strong> The project has raised concerns in downstream India and Bangladesh over the potential impact on the local ecosystem and water supplies downstream, but China \u2014 planning further projects upstream \u2014 claims that the project will have minimal environmental impact. The Chinese government is yet to release any reports on how the project will impact people in the region and the ecosystems. <\/p>\n

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Vietnam will implement a 97% anti-dumping tariff on <\/strong>wind towers imported from China after a probe that lasted over a year<\/strong>, according to a statement<\/a> released by the Chinese trade ministry last week. The levy would come into effect 15 days after signing and stay in force for five years. Almost all Chinese producers will be affected except for Jiangsu Zhenjiang New Energy Equipment, which was not implicated in the investigation. <\/p>\n

The argument: <\/strong>Vietnamese producers triggered the launch of the anti-dumping investigation in September 2023 after claiming that they were being harmed by the dumping of Chinese towers, Reuters<\/a> reported. The trade ministry concluded that China-made wind towers were dumped into the Vietnamese market, causing major damage to the local industries. The authority also concluded that domestic manufacturers could produce high quality products to be exported. <\/p>\n

OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-<\/strong><\/p>\n