Survey of Energy Resources 2007
Uranium Country Notes
In-situ resources have been assessed as 61 600 tonnes of RAR and 21 000 tonnes of IR, both at up to US$ 80/kgU, plus 1.39 million tonnes of SR at less than US$ 130/kgU. In assessing recoverable resources, the IAEA/NEA applies a recovery factor of 75% to Mongolia's in-situ RAR and IR tonnages. Despite the considerable size of its Identified Resources, Mongolia's recorded cumulative production of uranium amounts to only 535 tonnes. The tempo of exploratory activity has increased in recent years. A number of Canadian companies have become involved, either through purchasing prospective areas or by obtaining exploration licences.