France’s Orano Mining has entered a trilateral agreement with Uzbekistan’s Navoiuran and Japan’s ITOCHU to develop the Jongeldy uranium deposit. This collaboration, transcending geopolitical challenges following Orano’s loss of Niger’s mining assets, seeks to enhance uranium production and attract foreign investment, significantly impacting Uzbekistan’s uranium sector and international standing.
Orano Mining of France, in collaboration with Uzbekistan’s Navoiuran and Japan’s ITOCHU, has signed a trilateral agreement to initiate uranium extraction at the Jongeldy deposit. This agreement, executed on March 10, 2025, in Paris, aims to bolster Uzbekistan’s uranium industry through developing the deposit and advancing geological exploration in other projects.
Uzbekistan is recognized as one of the world’s top five uranium producers. By collaborating with notable international entities like Orano Mining and ITOCHU, Uzbekistan enhances its standing in this vital sector. The agreement is expected to expand uranium mining, boost production, and attract foreign investments.
The initial stage of the Jongeldy deposit development entails a $214 million investment over three years, primarily funded by foreign companies. Navoiuran has been appointed as the project operator, which will facilitate lower production costs and integrate operations with the existing industrial infrastructure. The project anticipates an average annual uranium production of 500 tonnes, potentially increasing to 700 tonnes per year at peak production.
To actualize this project, a joint venture named Nurlikum Mining will be formed, with ITOCHU acquiring an equity stake. This collaborative approach underlines the project’s international appeal and attractiveness to investors.
The push for uranium development in Uzbekistan follows Orano Mining’s loss of uranium mining assets in Niger, attributed to political changes in the region. Niger’s Minister of Mines, U. Abarshi, indicated that French companies would struggle to reclaim their mining rights, propelling Orano to explore alternatives in countries such as Uzbekistan, Kazakhstan, Mongolia, Namibia, and Canada.
In 2022, Niger was the seventh-largest producer of natural uranium globally, contributing 3.47% of the world’s output. Orano previously obtained about 1,200 tonnes of uranium from Niger but relied largely on Canada and Kazakhstan for the remainder of its supply. This shift in focus to Central Asia is now paramount for Orano after losing its Nigerien assets.
The Jongeldy development is part of a wider cooperation initiative between Navoiuran and Orano established in 2022 through a strategic agreement with the Uzbek government. Recently, in November 2023, President Shavkat Mirziyoyev of Uzbekistan met with Orano Chairwoman Claude Imauven, reinforcing their commitment to uranium exploration and extraction together.
Additionally, Orano Mining is expanding its footprint in other nations, with a preliminary agreement signed with Mongolia in December 2024 and plans announced in February 2025 for a small-scale mining operation in Uzbekistan by CEO Nicolas Maes.
The trilateral agreement among Orano Mining, Navoiuran, and ITOCHU represents a significant development for Uzbekistan’s uranium sector. Implementing the Jongeldy project will likely enhance uranium production and elevate Uzbekistan’s role in the global uranium market. Amid the geopolitical landscape and France’s recent challenges in Africa, Uzbekistan is positioned as a pivotal partner for Orano and provides Japan with opportunities for stable uranium supplies. Future collaborations and investments in Uzbekistan’s uranium sector are anticipated.
The collaboration between Orano Mining, Navoiuran, and ITOCHU signifies a transformative moment for Uzbekistan’s uranium industry. This partnership not only aims to boost uranium production significantly but also strengthens Uzbekistan’s position in the global market. Following Orano’s loss of assets in Niger, Uzbekistan emerges as a crucial partner. The agreement is poised to attract further investment, highlighting the strategic importance of this endeavor for all parties involved.
Original Source: news.az
