Uzbekistan to ramp up uranium production by 1.5 times

Uzbekistan's Navoiuran State Enterprise aims to boost its uranium production by 1.5 times, as disclosed by the Deputy Minister of Mining and Geology, Jamal Fayzullaev. This development was unveiled during a meeting where President Shavkat Mirziyoyev was briefed on the plans to expand Uzbekistan’s metallurgical industries. Deputy Minister Omonullo Nasritdinkhodzhayev had previously announced the country's goal of elevating uranium production from 3,600 tons in 2022 to 7,000 tons by 2030.

Cost efficiency and exploration expansion

Fayzullayev also shared strategies to cut uranium production expenses by 20.1%. He indicated a substantial surge in geological survey work, with over 1 mn meters of geological exploration and 3.8 mn meters of drilling work slated for uranium production in 2024.

Production amplification by 2030

Uzbekistan’s global position

Since 2016, Uzbekistan has consistently been the fifth-largest uranium producer worldwide. In 2022, the nation extracted 3,300 tons of uranium, accounting for 6.4% of global uranium production. With uranium reserves surpassing 100,000 tons, Uzbekistan ranks as the 10th largest holder of uranium reserves globally.

Navoi Mining and Metallurgical Combine

The Navoi Mining and Metallurgical Combine (NMMC), the only natural uranium mining company in Uzbekistan, is acknowledged as a global leader in the field. NMMC primarily exports its uranium products, making up 99.5% of its export portfolio. Key trading partners include AREVA NC (France), Converdyn (USA), Cameco (Canada), CNEIC (China), Itochu, Marubeni (Japan), and Nukem, Inc. (USA).

Uzbekistan’s future endeavors

Uzbekistan’s President Shavkat Mirziyoyev has ambitious plans to advance uranium mining and processing. In July 2022, a resolution was passed to double uranium production from 3,526 tons in 2021 to 7,100 tons by 2030. This decision signifies a ramp-up of geological exploration activities, with projected uranium reserve growth from 4,700 tons to 10,500 tons annually.

The resolution also approved 20 investment projects worth $460mn, aimed at boosting uranium mining in the country. The recently adopted Uzbekistan-2030 strategy aims to triple uranium production within seven years, underscoring its dedication to playing a crucial role in meeting global uranium demand.

Earlier, Daryo reported that Orano, a French firm, has disclosed plans to allocate up to $500mn towards uranium production in Uzbekistan. The investment is set to fund geological explorations in two areas within the Navoi region. The timing of Orano’s announcement aligns with French President Emmanuel Macron’s recent visit to Uzbekistan, which was perceived as a platform for discussions on augmenting uranium supplies.

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