ITOCHU Corporation has acquired a minority stake in the South Djengeldi uranium mining project in Uzbekistan, joining France’s Orano and Uzbekistan’s Navoiyuran in their Nurlikum Mining joint venture.
The agreement integrates the South Djengeldi project into Navoiyuran’s existing industrial infrastructure, with the Uzbek company serving as the project operator. Navoiyuran, the world’s fifth-largest uranium producer, employs over 9,000 workers and specializes in extracting and processing natural uranium using in-situ leaching technology.
Based on certified resources, the South Djengeldi project is expected to operate for more than a decade, reaching peak production of 700 metric tons of uranium annually. The partners will also launch an exploration program aiming to at least double the joint venture’s mineral resources.
The project advances cooperation established in a 2022 strategic framework agreement between Orano and Uzbekistan. For ITOCHU, one of Japan’s major trading houses, the investment aligns with its stated goals of supporting sustainable energy transition and carbon neutrality.
Orano’s mining activities chief indicated the project helps diversify the French group’s production sources, building on five years of work in Uzbekistan.
