BAKU, Azerbaijan, Dec. 4
By Fakhri Vakilov - Trend:
Uzbekistan’s State Committee for Geology and Mineral Resources, is creating a joint venture (JV) with the French Orano Mining company for uranium mining in the Navoi region, Trend reports citing Uzbek media.
The joint venture is being created in accordance with the decree of Uzbekistan’s Cabinet of Ministers "On measures to implement the project for geological exploration in the Yangikuduk, Northern and Southern Dzhengeldi uranium areas in the Navoi region with their subsequent development."
Orano Mining is a large international industrial company in France. The company is one of the three world leaders in the nuclear industry. Its extensive work experience provided her with a stable place in the global uranium market.
The meeting with company representatives was held on December 3. The final agreement was signed on the establishment of a Nurlikum mining joint venture. It was decided that the contribution of the State Committee for Geology and Mineral Resources to the authorized capital will be 49 percent.
The physical volumes of exploration and foreign direct investment for the project for 2020 in the amount of at least $8 million were approved.
It is planned that the use of effective technologies will allow the company to produce 1,500 tons of uranium oxide every year, and the experience of French partners will ensure guaranteed sales of products on more favorable terms. Due to foreign direct investment, the company will create 300 new jobs.
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