TASHKENT (TCA) — Major nuclear fuel cycle 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, the French company said on September 4.
The two partners have decided to create a joint venture which will be established in few months, with 51% held by Orano and 49% 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 works in the field are planned to commence in the first half of 2020.
“We are happy with and proud of this agreement which is part of the geographical diversification of the group’s mining activities and consolidates its presence in Central Asia,” said Nicolas Maes, Senior Executive Vice President of Orano’s Mining Business Unit. “It helps to strengthen relations within the framework of cooperation between France and Uzbekistan.
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