The state-owned enterprise Navoiyuran of Uzbekistan has signed a memorandum of strategic cooperation with China National Nuclear Corporation (CNNC) in the uranium industry. The document was signed during the first international forum on the development of the natural uranium industry in Beijing, where a meeting was held with CNNC Vice President Shen Yanfeng.
The agreement signifies a significant step in fostering collaboration between the two entities, showcasing Uzbekistan's commitment to expanding its uranium production and participation in the global nuclear fuel market.
Navoiyuran, which commenced uranium mining in 2022 after its separation from the Navoi Mining and Metallurgical Plant, has ambitious plans for the future. The state-owned enterprise aims to double its uranium production by 2030, with a target output of 7,100 tons per year.
In a recent statement, Minister of Mining and Geology Bobir Islamov highlighted the surge in uranium production and its successful market integration. As nuclear fuel production continues to increase, Uzbekistan will explore expanding exports based on favorable price conditions.
Islamov also emphasized the importance of diversifying uranium exports in various directions, strengthening Uzbekistan's position in the global uranium market.
Earlier Daryo reported that during the first three quarters of 2023, Uzbekistan's leading mining and metallurgical firm, Navoi Mining and Metallurgical Company (NMMC), delivered strong results, showcasing remarkable growth and substantial contributions to the country's economy.
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