The French company Orano, a global player in the market of nuclear fuel cycle products and services, intends to invest up to US $ 500 million in the extraction and processing of uranium in Uzbekistan. This was stated by the Minister of Mining and Geology of Uzbekistan Bobir Islamov, country’s mass media reports.
At the moment, the French company is conducting geological exploration, and by the end of this year it is planned to complete a preliminary feasibility study of the project.
“The final decision will be made on the basis of a feasibility study of the project. The total volume of investments, as defined in the agreement, is up to US $500 million,” Islamov said.
Last week, on the sidelines of the Uzbek-French business forum in Samarkand, the President of Uzbekistan Shavkat Mirziyoyev met with Claude Imauven, the Chairman of Orano’s Board of Directors.
According to the presidential press service, the parties welcomed initiatives to expand cooperation in the field of exploration and production of uranium.
Orano is the world’s largest producer of uranium and nuclear fuel with assets of 29 billion Euros.
Orano operates in Uzbekistan through its joint venture Nurlikum Mining, established in December 2019 (51% owned by Orano and 49% owned by the state enterprise Navoi Uran).
The company is developing a project for the exploration of uranium sections of the Northern and Southern Djengeldi deposits in the Navoi region. This is one of the richest deposits in Uzbekistan
In November 2022, Orano, the State Committee for Geology and state-run company ‘Navoi Uranium’ signed a trilateral cooperation agreement, which created the foundation for an exclusive strategic alliance to develop new uranium mines in Uzbekistan, in addition to the Djengeldi project. ///nCa, 7 November 2023
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