June 18, 2019 / 9:33 AM / 2 months ago

Uzbekistan, Orano to set up uranium joint venture

TASHKENT, June 18 (Reuters) - Uzbekistan will set up a joint venture with France’s Orano to explore and possibly develop uranium deposits in the Central Asian nation’s Navoi province, according to a draft Uzbek government decree published on Tuesday.

A unit of Orano, previously known as Areva, will have a 51 percent stake in the joint venture that will be established with a capital of $34.5 million, the document showed.

The draft decree provided no information on the potential size of uranium deposits that the venture, due to be set up by the end of next month, will explore. (Reporting by Mukhammadsharif Mamatkulov Writing by Olzhas Auyezov Editing by Louise Heavens)

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