France’s Orano Mining, Uzbekistan’s Navoiuran, and Japan’s ITOCHU have signed a trilateral agreement on uranium extraction at the Jongeldy deposit. This agreement, signed on March 10, 2025, aims to enhance Uzbekistan’s uranium industry and attract foreign investment amidst Orano’s loss of uranium assets in Niger. The project will require a $214 million investment and anticipates significant production levels.
On March 10, 2025, France’s Orano Mining, Uzbekistan’s Navoiuran, and Japan’s ITOCHU signed an agreement to initiate uranium extraction at the Jongeldy deposit. This agreement marks a pivotal development for Uzbekistan’s uranium sector, focusing both on the deposit’s development and on geological exploration in other joint projects. Uzbekistan’s position as a leading global uranium producer will likely be bolstered by such collaborations.
The initial phase of the Jongeldy deposit’s development will require an investment of $214 million over three years, with foreign companies as primary investors and Navoiuran acting as the project operator. This approach aims to minimize production costs while integrating operations into the existing infrastructure, anticipating a production average of 500 tonnes, with peaks reaching up to 700 tonnes annually.
To facilitate the project, a joint venture called Nurlikum Mining will be created, allowing ITOCHU to acquire a stake. This emphasizes the project’s international character and enhances its attractiveness for investment. The venture emerges as Orano seeks alternatives after losing uranium mining rights in Niger, following leadership changes in that country.
According to the World Nuclear Association, Niger accounted for 3.47% of global uranium production in 2022. Following the loss of access to Niger’s uranium, which had provided Orano with significant volumes, the company now prioritizes projects in Central Asia, including Uzbekistan.
The Jongeldy development aligns with a broader cooperation agenda between Navoiuran and Orano, which began in 2022 through a strategic framework agreement. In November 2023, discussions between Uzbekistan’s President Shavkat Mirziyoyev and Orano’s Chairwoman Claude Imauven reaffirmed commitments to expand uranium exploration collaboration.
Orano Mining is also broadening its focus internationally, having signed an agreement with Mongolia in December 2024 for the Zoovch-Ovoo deposit and pursuing a deal for small-scale operations in Uzbekistan, as mentioned by CEO Nicolas Maes in February 2025. The trilateral agreement marks a significant landmark in advancing Uzbekistan’s uranium capabilities.
The trilateral agreement between Orano Mining, Navoiuran, and ITOCHU signifies an important development for Uzbekistan’s uranium sector, aiming to boost production and attract foreign investment. This initiative comes as a response to geopolitical shifts and the need for new uranium sources, following Orano’s asset losses in Niger. The project highlights Uzbekistan’s emerging role as a crucial partner for Orano and presents significant opportunities for investment and cooperation in the global uranium market.
Original Source: news.az
