Uzbekistan has signed an agreement with French and Japanese companies to initiate uranium production in the Navoi region by the end of 2025.
French nuclear fuels company Orano said it would start developing its South Djengeldi uranium mining project in Uzbekistan as part of its Nurlikum Mining joint venture with Uzbek state-owned mining company Navoiyuran.
Japan's ITOCHU Corporation has also acquired a minority stake in the joint venture, the statement said, and the partners will embark on an exploration programme with the aim of at least doubling the JV's mineral resources.
This agreement will allow the parties to combine their capabilities and introduce innovative solutions for uranium production at the Jongeldi deposit, located in the Tomdi district of the Navoi region, said Navoiyuran's press-release.
The agreement also aims to accelerate geological exploration in other joint projects.
"This new phase was made possible by the work undertaken over the past 5 years in Uzbekistan. Orano aims to bring its geological and technical expertise to the further project's development and, in doing so, support the expansion of the company's operations," - said Xavier Saint Martin Tillet, senior executive vice president of Orano's mining activities.
The mine is expected to produce for over a decade, with peak output forecast at 700 metric tons of uranium a year, Orano said in a statement.
Under the terms of the agreement, foreign companies will be the primary investors in the Jongeldi deposit. To reduce uranium extraction costs and integrate production processes into the existing industrial capacities of Navoiyuran, the state enterprise has been designated as the managing operator of the project.
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