A joint venture with Orano Mining to be created in Uzbekistan
05/09/2019 20:20
A joint venture with Orano Mining to be created in Uzbekistan
05/09/2019 20:20
Tashkent, Uzbekistan (UzDaily.com) -- On 4 September 2019, at the headquarters of Orano Mining in Paris (France), the Chairman of the State Committee for Geology Bobir Islamov and the President of the company Nicolas Maes signed an agreement on creating a joint venture, aimed at phased geological exploration on promising uranium fields in Navoi region, the development of a feasibility study for the project, with the further development of identified deposits and the sale of finished products.
Cooperation with a reliable partner represented by Orano Mining, which has significant experience, practice and a stable place in the global uranium market, as well as the integration of competencies and experience of the parties, will contribute to the successful development of projects based on the joint venture being created.
In accordance with the signed Agreement, the shareholding of the State Committee for Geology in the joint venture is formed at the expense of historical costs of geological and other information obtained in the course of previous exploration work, the share of Orano Mining is formed at the expense of cash. As part of the investment project, it is envisaged to attract foreign direct investment at the initial stage of up to US$20 million and, if a commercial field is discovered, about US$150 million.
The implementation of the project will allow the introduction of modern management methods with the sale of products on more favorable conditions that are widely used in international practice and create more than 300 new jobs with the production of 1,500 tons of uranium oxide-oxide per year.
The fruitful cooperation between the State Committee for Geology and the Orano Mining in this direction will allow to raise friendly relations between Uzbekistan and France to a new level.
Orano is a large international French industrial company, the leader of the French nuclear industry, and one of the top 3 world leaders in this direction.
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