Uzbekistan , Tashkent, Oct. 3 / Trend, D. Azizov /
China 's CGNPC Uranium Resources Co plans to expand geological exploration for uranium in Uzbekistan in 2011-2015 due to the study of new perspective areas, a source in the government of the country told Trend on Monday.
According to the source, currently CGNPC and the State Committee for Geology and Mineral Resources have a memorandum of understanding, which envisages attracting high technology geological exploration in the perspective uranium areas in the Central Kyzyl Kum.
Under the agreements, at the initial stage of cooperation CGNPC will explore the possibility of holding survey in suggested perspective areas in the next five years.
In August 2009, Uzbekistan's State Committee for Geology and Mineral Resources and CGNPC Uranium Resources Co established a joint venture Uz-China Uran with authroized capital of $4.6 million.
The aim of the venture is to carry out geological exploration of uranium deposit on perspective Boztau area in the Central Kyzyl Kum. This joint venture is the first created in Uzbekistan for the development of uranium deposits.
According to the State Committee for Geology and Mineral Resources, probable reserves of uranium on Boztauskoy area are about 5,500 tons.
The Chinese company has a preferential right to purchase Uz-China Uran's products at world prices.
Uz-China Uran plans to begin uranium production in 2014.
According to the State Committee for Geology and Mineral Resources, proven and estimated reserves of uranium in Uzbekistan amount to 185,800 tons.
Edited by: A.Badalova