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NEWS

JOGMEC to conduct geological investigations into rare metals in Uzbekistan

www.azernews.az
23 October 2014

The Japanese Oil, Gas and Metals National Corporations (JOGMEC) and Uzbek State Committee on Geology and Mineral Resources (Goskomgeo) will jointly conduct geological investigations into rare metals in Chatkal-Kurama rare-earth zone of Uzbekistan.

The news was announced by Department Head of Goskomgeo Azam Kadyrkhojayev at an international conference titled "Investment potential of solid minerals of Uzbekistan" held in Tashkent on October 23.

"Preliminary works are underway without a license agreement," he noted.

Kadyrkhojayev also said the sides are conducting investigations into rare and rare-earth metals (tantalum, niobium, lithium, beryllium, rubidium, cesium and others) in accordance with an agreement concluded between Goskomgeo and JOGMEC in 2013.

JOGMEC and Uzbekistan's Navoi Mining and Metallurgical Combinat (NMMC) signed an agreement on the uranium exploration in the prospective areas in July.

In August, JOGMEC received a five-year license for uranium exploration at two prospective areas in Navoi.

According to the document, JOGMEC will implement geological exploration works in the Juzkuduk and Tamdiykuduk-Tulyantash prospective fields upon the terms of business risk for five years.

JOGMEC is the first foreign investor in Uzbekistan which has the right to explore and develop sandstone uranium deposits.

There are two types of deposits - of sandstone and black shale type - in the mineral resource base of the country. The sandstone deposits are developed by NMMC.

Uzbekistan is not a consumer of uranium products, and all of the produced uranium is exported. NMMC is the only authorized operator in mining and uranium export in Uzbekistan.

Uzbekistan has significant reserves of metals, in particular gold, copper, lead, zinc, silver, tungsten, uranium and molybdenum. The country has large minerals development capacity which is economically viable.