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Uzbekistan invites Japan to develop uranium deposits
Real estate news By Shamil Baigin
Fri Oct 19, 2007 2:27pm BST
TASHKENT, Oct 19 (Reuters) - Uzbekistan, one of the world's biggest uranium producers, invited Japan on Friday to deepen cooperation and jointly explore the Central Asian state's vast uranium reserves. Securing new exploration projects in Central Asia is key to Japan which relies on nuclear power for over 25 percent of its electricity and imports some 60 percent of its uranium from Australia and Canada.
On Friday, an Uzbek geology official said Itochu Corp. (8001.T: Quote, Profile, Research), Japan's No.4 trading company, has signed a contract with Uzbekistan to develop technology that would help explore the Rudnoye deposit. Nariman Mavlyanov, head of the state committee on geology and mineral resources, also said Itochu could explore three other uranium deposits in Uzbekistan. The Japanese companies could not be reached for comment.
Mavlyanov said separately the Uzbek government has invited Japan Oil, Gas and Metals National Corporation (JOGMEC) to consider exploring a total of 11 uranium sites in Uzbekistan. "If everything is confirmed we will create a 50-50 joint venture and will then start developing the deposits," he told reporters without giving a timeframe. Japan and Uzbekistan agreed to work together in the uranium field during a visit by former Prime Minister Junichiro Koizumi to Tashkent in 2006.
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