A delegation from Uzbekistan's Ministry of Mining Industry and Geology, led by Deputy Minister Jamal Faizullaev, Director General of Navoiuran AC, has returned from China with significant developments in bilateral uranium cooperation.
The trip concluded with the signing of a trilateral agreement between Uzbekistan’s Ministry of Mining Industry and Geology, Navoiuran, and China National Uranium Corporation (CNUC), part of the Chinese National Nuclear Corporation (CNNC). This agreement outlines plans for joint geological exploration in Uzbekistan and the creation of an innovative scientific and technological center for uranium and other mineral extractions.
During their visit, the delegation engaged in discussions with senior officials from the Atomic Energy Agency and the China Energy Administration, focusing on expanding cooperation in the uranium sector. This visit built on agreements made during President Shavkat Mirziyoyev's visit to China in January 2024.
The Navoiuran team also visited China’s premier nuclear research centers, BRICEM CNUC (geology) and BRIUG CNUC (technology), where they explored advanced projects and technologies in uranium enrichment and nuclear fuel production. Negotiations with CNNC officials included discussions on introducing these technologies in Uzbekistan to enhance local uranium production capabilities.
To ensure the agreements are implemented, CNNC representatives are scheduled to visit Uzbekistan in September to begin collaborative efforts. This partnership represents a step forward in modernizing Uzbekistan's uranium industry and leveraging advanced technologies for increased value in mineral extraction.
In the first half of 2024, Uzbekistan saw a 12% increase in uranium production, surpassing the state’s production plan by 10% and achieving 112% of the previous year’s figures. Additionally, the geology-exploration forecast was exceeded by 22%.
From January to June, total production amounted to UZS 4.9 trillion ($387.9mn), marking a 12.3% rise compared to the same period in 2023. The company's net profit surged by 55% to UZS 1.9 trillion ($150.4mn), while investments were adjusted to $48.5mn.
Uranium, a naturally occurring mineral extracted from underground deposits, is crucial for nuclear power plants, reactors in ships and submarines, and also has applications in nuclear weapons and radiation protection systems. The World Nuclear Association reports that global uranium production exceeds 60,000 tons annually, covering 80-90% of worldwide demand.
The uranium produced by Navoiyuran is fully exported to major processing facilities, including AREVA NC (France), Converdyn (USA), Cameco (Canada), and CNEIC (China). Key trading partners also include Itochu and Marubeni (Japan) and Nukem, Inc. (USA). Uzbekistan hosts 39 uranium mines, with 35 located in sandstone deposits mainly in the Navoi and Samarkand regions, and 4 in limestone deposits.
Follow Daryo's official Instagram and Twitter pages to keep current on world news.
Comments (0)