• 5 minutes Oil prices forecast
  • 8 minutes Nuclear Power Can Be Green – But At A Price
  • 11 minutes Projection Of Experts: Oil Prices Expected To Stay Anchored Around $65-70 Through 2023
  • 16 minutes Europe Slipping into Recession?
  • 45 mins *Happy Dance* ... U.S. Shale Oil Slowdown
  • 4 hours Emissions from wear of brakes and tyres likely to be higher in supposedly clean vehicles, experts warn
  • 1 hour Socialists want to exorcise the O&G demon by 2030
  • 7 hours Germany: Russia Can Save INF If It Stops Violating The Treaty
  • 13 hours UK, Stay in EU, Says Tusk
  • 6 hours How Is Greenland Dealing With Climate Change?
  • 3 days Connection Between Climate Rules And German's No-Limit Autobahns? Strange, But It Exists
  • 4 hours Is Natural Gas Renewable? I say yes it is.
  • 3 days Chevron to Boost Spend on Quick-Return Projects
  • 3 days Conspiracy - Theory versus Reality
  • 2 days Maritime Act of 2020 and pending carbon tax effects
  • 13 hours Saudi Private Jet Industry Stalls After Corruption Crackdown
Oil’s Traffic Light Turns Yellow

Oil’s Traffic Light Turns Yellow

Oil prices started to stabilize…

Uzbekistan Seeks Joint Uranium-Producing Project With China

Last December Uzbekistan announced a program to attract $50 billion in direct foreign investment (FDI) into Uzbekistan within the next five years.

Now Uzbekistan is seeking Chinese investment in the country’s uranium mining sector.

If the project comes to fruition, it will jointly develop the country’s uranium sands fields, according to Uzbekistan’s Committee of Geology and Mineral Resources, which gave no specific information on the possible Chinese companies participating in the project.  The output will provide the resource base for Uzbekistan’s  Navoiskoie ore-enriching plant, which has a monopoly on producing, enriching and exporting uranium in Uzbekistan.

While Uzbekistan’s government has tried to attract foreign investors to develop dark-shale uranium fields, Tashkent has not developed the deposits up to now due to the large investments required, Russkoe Informatsionnoe Agenstvo RIA Novosti reported.

The cooperation plan was approved during Uzbek President Islam Karimov's visit to China four months ago.

In August 2009 China's CGNPC Uranium Resources Co. and Uzbekistan's Geology and Mineral Resources Committee established the Uz-China Uran joint venture on a parity basis, with a charter capital of $4.6 million to prospect for uranium in the Kyzyl Kum Desert.

Uranium production in Uzbekistan is limited to three leaching operations in Uchkuduk, Zafarabad, and Nurabad, which are under the control of the Navoi Mining and Metallurgy Combine in Navoi city.  All uranium production in Uzbekistan is the property of the Uzbek government. Before the 1991 disintegration of the USSR, all uranium produced in Uzbekistan was shipped to Russia but since 1992 Uzbek uranium production is exported, primarily to the United States through the U.S.-based intermediary Nukem, Inc.

By. Joao Peixe, Deputy Editor OilPrice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News