Baku, Azerbaijan, June 18
By Fakhri Vakilov –Trend:
The French company Orano Mining SA will create a joint venture for the exploration and mining of uranium in the Navoi region of Uzbekistan, Trend reports referring to Uzbek media.
The State Committee of Uzbekistan for Geology and Mineral Resources and Orano Mining signed in October 2018 an agreement on the implementation of a project for conducting joint geological exploration in promising areas for uranium of “sandstone” type in the country with their subsequent development.
The authorized capital of the joint venture, to be created before the end of July, will be $34.5 million.
The share of Orano is 51 percent in the form of cash, technological equipment and technology, the share of the State Geology Committee is 49 percent due to the cost of geological and other information on the contract areas.
The joint venture will stage exploration in promising areas of uranium of “sandstone” type North and South Dzhengeldy and Yangikuduk in the Navoi region, and in the case of obtaining positive results will be engaged in the development of identified fields and the sale of finished products.
Uranium production in Uzbekistan increased by 0.5 percent to 2,270 tons in 2007. Subsequent data is not disclosed.
Uzbekistan is currently not a consumer of uranium products, and all the uranium produced is exported.
---
Follow author on Twitter:@vakilovfaxri