France’s Orano Mining has partnered with Uzbekistan’s Navoiuran and Japan’s ITOCHU to develop the Jongeldy uranium deposit. This agreement includes a $214 million investment over three years and aims to boost Uzbekistan’s uranium sector. The initiative follows Orano’s loss of assets in Niger and reflects a strategic shift towards Central Asia.
France’s Orano Mining, in conjunction with Uzbekistan’s Navoiuran and Japan’s ITOCHU, has signed a trilateral agreement to initiate uranium extraction at the Jongeldy deposit. This significant agreement was formalized on March 10, 2025, in Paris and will also involve ramping up geological exploration in other joint initiatives. Uzbekistan’s position as one of the top five global uranium producers will be notably enhanced through this collaboration with renowned international firms.
The initial phase of developing the Jongeldy deposit entails an investment of $214 million over a three-year period, where foreign investors will be the main contributors. Navoiuran has been appointed as the project operator, strategically aiming to minimize production costs while synchronizing mining processes with the existing industrial framework of the company. The anticipated uranium production is projected to average 500 tonnes annually, with peak production at South Jongeldy reaching up to 700 tonnes.
To facilitate this project, a joint venture named Nurlikum Mining will be established, with ITOCHU acquiring an interest. This joint venture emphasizes the project’s international cooperation and boosts its attractiveness for investors. The development of this uranium initiative aligns with Orano Mining’s redirecting efforts following its loss of mining rights in Niger.
Niger’s Minister of Mines, U. Abarshi, indicated that French companies are unlikely to reclaim their previous uranium mining privileges, propelling Orano to explore alternative production sources in Uzbekistan and beyond. The World Nuclear Association reported that Niger accounted for 3.47% of global uranium production in 2022, with Orano having depended on 1,200 tonnes sourced from Niger.
The push for the Jongeldy deposit is part of a more extensive cooperation program initiated in 2022, following a strategic framework agreement between Orano and the Uzbek government. This continuous collaboration was strengthened when Uzbekistan’s President Shavkat Mirziyoyev met with Orano Chairwoman Claude Imauven in November 2023, arriving at a consensus to further enhance cooperation in uranium exploration and extraction.
Beyond Uzbekistan, Orano Mining is also advancing initiatives in other countries, having recently signed a preliminary agreement in December 2024 with Mongolia for the development of the Zoovch-Ovoo deposit. The trajectory of the Jongeldy project not only promises to amplify uranium production but also reinforces Uzbekistan’s position in the global uranium marketplace, highlighting the emerging partnership amid geopolitical dynamics. Furthermore, the partnership presents Japan with opportunities to secure stable uranium supplies, indicating a future of deeper collaboration and increased investments in Uzbekistan’s uranium sector.
The trilateral agreement between Orano Mining, Navoiuran, and ITOCHU signifies a pivotal moment in Uzbekistan’s uranium industry development. With substantial investments and a focus on international collaboration, the project is poised to enhance uranium production and solidify Uzbekistan’s global market position. As Orano shifts its focus to Central Asia amidst geopolitical changes, this partnership represents potential growth and investment opportunities in the uranium sector.
Original Source: news.az
