Baku, Azerbaijan, Sept. 5
By Fakhri Vakilov - Trend:
International French industrial company Orano has signed a partnership agreement with the Uzbek State, represented by the State Committee for Geology and Mineral resources (GoscomGeology) to develop mining exploration and operations activities in Uzbekistan, Trend reports with reference to the press service of Orano.
The two partners have decided to create a joint venture which will be established in a few months, with 51 percent held by Orano and 49 percent held by GoscomGeology.
This agreement formalizes the desire of both parties to work together on Uranium mining projects in Uzbekistan, in particular in the Navoi region in a desert area at the heart of the uranium-rich province of Kyzylkum.
The two partners plan to conduct borehole drilling works in the area to improve the classification of resources already identified by GoscomGeology and discover new Uranium resources. The first work in the field is planned to commence in the first half of 2020.
“Uzbekistan has rich experience in the development of uranium deposits by ISR1. Combined with Orano’s experience, this project will move to new territories and develop innovative solutions to increase productivity," Nicolas Maes, Senior Executive Vice President of Orano's Mining Business Unit said.
Orano SA is a large international French industrial company, the leader of the French nuclear industry.
GoscomGeology is the State Committee of Uzbekistan for Geology and Mineral Resources.
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