PROJECTS
Gurvansaikhan LLC.
History of the GSJV project
1960-1980
1960s
Intensive geologic prospection began in Mongolia, led by Soviet state geologic prospection enterprises, including Irkutsk-based "Sosnovgeology," a subsidiary of the "Urangeologorazvedka state enterprise."
1960-1980
1980s
"Sosnovgeology" geologist party identified and mapped several perspective deposits in the Central Gobi area. In 1988, chief geologist Alexandr Budunov discovered the Choir deposit and conducted extensive exploration.
1994
Formation of GSJV
After a brief hiatus due to political and economic changes, a Russian, Mongolian, and US Joint Venture Company named “Gurvansaikhan LLC” (GSJV) was established to continue exploring the uranium occurrences discovered by "Sosnovgeology." The Hairhan deposit was discovered during this period.
1997
Denison Mines Acquisition
Denison Mines acquired the US shares in GSJV, focusing on exploring the Hairhan, Choir, and Ulziit areas.
1999-2005
Market-Driven Hiatus
Activities paused due to a drop in uranium market prices. Work resumed and intensified on the Hairhan and Haraat areas in 2006.
2012
Exploration Licenses
GSJV was granted six exploration licenses. In 2012, two licenses (Urt-tsav and Huh Tolgoi) were released, leaving Hairhan, Choir, Gurvansaikhan, and Ulziit as the core project areas, covering 167,260 hectares.
2012
Uranium Industry a.s. Established
A group of Czech geologists and uranium mining specialists founded Uranium Industry a.s. to explore and mine uranium ore deposits in Mongolia. Cooperation between Uranium Industry a.s. and the Government of Mongolia was formalized through a Memorandum of Understanding between the Czech Republic's Ministry of Industry and Trade and Mongolia's Nuclear Energy Agency.
2015
Acquisition by Uranium Industry a.s.
Uranium Industry a.s. acquired shares of Denison Mines in GSJV, applying for mining licenses for areas with reduced boundaries.
2016
Mining Licenses Issued
In September 2016, the Mineral Resource Authority of Mongolia issued mining licenses to Gurvansaikhan LLC for the Hairhan, Haraat, Ulziit, and Gurvansaikhan deposits, with registered reserves estimated at 20,784 Ut and at least double potential.
2016
Strategic Partnership
Uranium Industry a.s. acquired a controlling stake in Gurvansaikhan LLC. Productive cooperation began with the Kazakh state concern NAC Kazatomprom, focusing on uranium ore deposits in Mongolia and the sale of natural uranium to the Czech Republic and other European countries.
Gurvansaikhan LLC.
Government Support
Czech – Mongolian intergovernmental support: 2012
On December 19th, 2012 the Ministry of industry and trade of the Czech Republic and Nuclear Agency of Mongolia signed a MOU in the field of nuclear technology and u-ores regarding the exploration, mining and subsequent processing of radioactive materials on the territory of Mongolia. In the following years, the support for the Uranium Industry project has been confirmed in the protocols of the Czech-Mongolian Intergovernmental Working Committee.
Czech – Mongolian intergovernmental support: 2013
-In 2013 Mongolian state bodies and organizations (State Khural, State property committee, Mining ministry, NEAM and etc) held a meeting where the cooperation between Uranium Industry and Mon-Atom its full support and the Joint Venture Company project between them was approved by the Prime Minister of Mongolia and National Security Council.
-The acquisition of the GSJV asset was implemented through a tripartite MOU between Uranium Industry, Denison Mines Corp. and the state Nuclear energy commission of Mongolia.
Czech – Kazakh intergovernmental support:2016
-In December 2016 Uranium Industry a.s. and NAC Kazatomprom entered into an MOU.
-Cooperation with NAC Kazatomprom is noted in the protocols of the Czech-Kazakh intergovernmental commission as one of the priority projects of cooperation between Czech Republic and the Republic of Kazakhstan, in addition to cooperation in the field of geology, mining and subsequent processing, and also includes cooperation in the various fields of full nuclear cycle.