Uzbekistan’s Navoiyuran State Enterprise, through Deputy Minister of Mining and Geology Jamal Fayzullaev, has announced plans to increase uranium production by 1.5 times in the country but did not provide a time frame for that target.
The lack of a time frame makes it unclear if the announcement means that Uzbekistan is in reality cutting targets. Earlier last year, Fayzullaev announced at the Innoprom Central Asia International Industrial Exhibition in Tashkent that Uzbekistan planned to nearly double uranium production from 3,600 tons in 2022 to 7,100 tons by 2030.
The recent announcement was made at a meeting attended by heads of Navoi Mining and Metallurgical Company, Almalyk Mining and Metallurgical Combine, Uzbek Metallurgical Combine (Uzmetkombinat), and Navoiyuran State Enterprise, as well as Prime Minister Abdulla Aripov, and Deputy Prime Minister Jamshid Kuchkarov.
Here, Fayzullayev also said that Uzbekistan plans to cut production costs by 20.1%. Prospecting is also set to “sharply increase,” while the company will also carry out geological surveys across an area exceeding 1 million square meters, and drill test across 3.8 million square meters for uranium production this year, although the actual size of the drill program in terms of drill holes or meters was not provided.
Information for this story was found via the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.