An agreement was signed on the acceleration of uranium mining at the “Jongeldi” deposit

On March 10, 2025, a tripartite agreement was signed in Paris, France, between the French company Orano Mining, the Japanese corporation ITOCHU, and the state enterprise Navoiyuran to begin uranium production at the Jongeldi deposit, located in the Tomdi district of the Navoiy region, by the end of 2025. The agreement also aims to accelerate geological exploration in other joint projects.

This agreement will enable the parties to combine their capabilities and introduce new solutions for project development.

According to the agreement, in the first phase of the Djengeldi deposit’s development, initial calculations estimate as initial capital investment of approximately $100 million over a total capital investment of more than $200 million over the lifetime of the mine, with an annual average uranium production of approximately 500 tons/annum with a peak at 700 tons/annum and a capital investment period of three years.

Under the terms of the agreement, foreign companies will be the primary investors in the Jongeldi deposit. To reduce uranium extraction costs and integrate production processes into the existing industrial capacities of Navoiyuran, the state enterprise has been designated as the project’s managing operator.

Furthermore, this agreement marks the beginning of a long-term cooperation among the three major companies in the uranium industry. Beyond financial investments, the agreement creates opportunities for collaboration in several key areas, including:

• Development and implementation of innovative technologies in uranium exploration and extraction.
• Exchange of knowledge and best practices in geological exploration and uranium mining.
• Enhancing operational efficiency, introducing modern corporate management systems, ESG principles, and other international standards.

Background Information:

• Orano (France) is a leading international company in the field of nuclear materials, offering high-value solutions in uranium mining, processing, and the entire nuclear fuel cycle. Committed to safety, innovation, and sustainable development, Orano plays a crucial role in securing the global future of nuclear energy. Every day, the Orano group’s 17,500 employees draw on their skills, unwavering dedication to safety and constant quest for innovation, with the commitment to develop know-how in the transformation and control of nuclear materials, for the climate and for a healthy and resource-efficient world, now and tomorrow.
• ITOCHU Corporation (Japan) is one of the world’s leading trading and investment companies, actively engaged in major projects across the metals, minerals, energy, and industrial sectors. The company continues to implement innovative solutions to strengthen its global market position and achieve sustainable development goals.