Uzbekistan’s Navoiyuran and France’s Orano have signed an agreement to develop the Yuzhny Jengeldy uranium deposit with initial investments of $214 million. This collaboration aims for uranium production over at least ten years, focusing on sustainability, job creation, and local community support, thereby enhancing long-term cooperation in the uranium sector.
Uzbekistan’s state-owned enterprise Navoiyuran and the French company Orano have entered into a cooperation agreement aimed at developing the Yuzhny Jengeldy uranium deposit. This agreement, which was signed during President Shavkat Mirziyoyev’s visit to Paris, involves significant investment and a commitment to uphold environmental and safety standards.
The agreement, executed on March 11, will facilitate uranium exploration and extraction, with an estimated investment of $214 million over the project’s initial three years. Navoiyuran’s general director, Jamal Faizullaev, and Orano’s vice president for mining, Xavier Saint Martin Tillet, underscored the importance of local community support along with job creation.
The Yuzhny Jengeldy project will see uranium production expected to last a minimum of ten years, with peak extraction projected at 700 metric tons annually. While foreign firms will be prominent investors, Navoiyuran will manage the operation, which is anticipated to lead to reduced production costs.
The agreement also paves the way for long-term collaboration in various areas of the uranium sector, including the introduction of innovative mining technology, enhanced operational efficiency, and adherence to modern governance and environmental standards. This project aligns with Orano’s strategic vision for development in Uzbekistan, which began with a prior agreement in 2022.
Nurlikum Mining, a joint venture launched in December 2019 between Orano and the State Committee for Geology of Uzbekistan, is responsible for managing three significant uranium areas in the region. As Uzbekistan seeks to model its nuclear fuel supply chain after France’s, the partnership is set to solidify its position as a key player in the uranium market.
The recent agreement between Uzbekistan and France marks a significant step in enhancing uranium mining capabilities in Uzbekistan. With an initial investment of $214 million and a commitment to sustainability, this collaboration not only aims to produce substantial uranium output for both countries but also reinforces the long-term partnership in the nuclear energy sector. By capitalizing on innovative technologies and local management, Uzbekistan strengthens its role in the global clean energy supply chain, while addressing regional supply diversification concerns.
Original Source: www.gazeta.uz
