Tashkent, Uzbekistan, Oct. 25
By Demir Azizov- Trend:
The Japan Oil, Gas and Metals National Corporation (JOGMEC) together with the Uzbek State Committee on Geology and Mineral Resources conduct geological exploration for rare metals in Chatkal-Kurama rare earth zone of Uzbekistan, the head of the department under the committee Azam Kadyrkhojayev said at an international conference entitled "Investment potential of solid minerals of Uzbekistan" held in Tashkent on October 23.
"The preliminary work is underway without a license agreement," he said.
Kadyrkhojayev also said the sides are searching for rare and rare-earth metals (tantalum, niobium, lithium, beryllium, rubidium, cesium and others) in accordance with an agreement concluded between the committee and JOGMEC in 2013.
He recalled that JOGMEC is conducting geological exploration on two perspective areas of sandstone-type uranium in the Navoi region.
JOGMEC and Navoi Mining and Metallurgical Combine (NMMC) signed an agreement to conduct geological exploration at Juzkuduk and Tamdiykuduk-Tulyantash prospective fields on the business risk terms in July 2013. While revealing the uranium deposits in the contractual areas, JOGMEC is entitled to hold direct negotiations and conclude an appropriate production sharing agreement with Uzbekistan.
This is the first project in Uzbekistan, where the foreign investor is entitled to conduct exploration and development of sandstone-type uranium deposits.
Uzbekistan is not a consumer of uranium products. The whole uranium is exported. NMMC is a monopoly operator on extraction, concentration and export of uranium in Uzbekistan.