Uzbekistan, Tashkent, 24 July / corr. Trend T.Zhukov / The Japanese Mitsui& Co Ltd. Company plans to establish a huge Join Venture (JV) on uranium production in Uzbekistan, Trend correspondent reported from Tashkent.
The Japanese company and the Uzbek State Committee on geology and mineral resources signed a protocol on intention, which envisages opportunities to establish the Uzbek and Japanese JV on uranium production, the State Committee on geology told Trend . In accordance with this document, Mitsui& Co Ltd. Company was granted an exclusive right to explore possibilities of joint development of several fields at ore area of Western-Kokpatas region. This area, together with the richest Kokpatas field, is located in the Central Kyzyl-Kum desert.
According to the State Committee on geology, Mitsui& Co Ltd was granted an exclusive right for the term of 18 years. The Japanese company should study documents, which were submitted by the State Committee on geology about this area, and take a decision on opportunities to hold further geological exploration by the end of 2008. If the project reaches commercial phase, uranium produced here will be exported to atomic power stations.
The Japanese Bank of International Cooperation (JBIC) stated its intention to finance projects on development of uranium fields in Uzbekistan with the participation of the Japanese companies in September 2006. The JBIC and the Uzbek Government inked a memorandum on mutual understanding, makes eligible the Japanese Bank to issue loans in the field of uranium production in Uzbekistan with the participation of the Japanese companies and technology. An agreement on possible cooperation in development of uranium fields in the country was signed during the visit of Junichiro Koizumi, the Japanese Premier, to Tashkent in 2006.
According to the IAEA, Uzbekistan is at the seventh place in the world for uranium reserves and at the fifth place for its production. Uzbekistan does not possess its own atomic industry and all produced low-enriched uranium is exported. At present about 40 uranium fields were explored in the country and 27 fields are the base of them. About 4% of the world's uranium reserves is located in Uzbekistan, according to IAEA's estimation.
According to the state Committee on geology, Uzbekistan's explored and estimated uranium reserves comprise 185.8 tons. Uranium production rose by 0.5% to 2,270 tons in Uzbekistan in 2007. The Navoiyski Mining and Smelting Complex (NMSC) is a monopolist producer of uranium in the country. The Complex plans to increase uranium production to 3,000 tons by 2010. The NMSC produced to 30.5 tons of low-enriched uranium a year by the beginning of 1990s.
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