On the eve of the state visit of the President of Uzbekistan to France, a tripartite agreement was signed in Paris between the French company Orano Mining, the Japanese corporation ITOCHU and Uzbekistan’s Navoiyuran state enterprise.
The agreement aims to launch uranium production at the Jongeldi deposit in Tomdi district of Navoi region until the end of 2025 and to accelerate geological exploration as part of ongoing joint projects.
This agreement will enable the parties to unite their capabilities and introduce new solutions for project development.
According to the document, the total capital investment in the first phase of developing the Jongeldi deposit is expected to amount to $214 million over three years, with an estimated annual uranium production of 500 tons.
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 project’s managing operator.
Additionally, the agreement serves as the starting point for long-term cooperation between the three major companies in the uranium sector, creating opportunities for investment and joint work in several key areas. These include participation in geological exploration and mining projects abroad, development and implementation of innovative uranium mining technologies, knowledge exchange in geological exploration and uranium extraction, enhancement of operational efficiency and the adoption of modern corporate governance systems, ESG principles and other international standards. (Kazinform)
