Uzbek mining joint venture enters next phase

The structure of the joint venture between French nuclear materials group Orano, state-owned Uzbek uranium producer Navoiyuran, and Japanese company ITOCHU Corporation has now been updated, with Orano and Navoiyuran each holding a 45% stake and ITOCHU holding the remaining share. According to the joint venture agreement signed in March, "this new phase paves the way for the industrial development" of the uranium deposit, the companies said.

The project is in the Tomdi district of the Navoi region. It will be integrated into the local production base of Navoiyuran, which will serve as the operator, leveraging synergies through the existing infrastructure with the aim of reducing production costs and increasing efficiency.

The South Djengeldi deposit is expected to provide stable production for 10 years. Average annual uranium production is expected to be 500 tU, with a peak of up to 700 tU. Geological exploration under a 2022 strategic cooperation programme between Orano and the Government of the Republic of Uzbekistan aims to "at least" double the volume of mineral resources.

Uzbekistan's estimated uranium output in 2024 was 4000 tU, according to information from World Nuclear Association, making it the fifth largest uranium producer in the world behind Kazakhstan, Canada, Namibia and Australia.