Tashkent, Uzbekistan (UzDaily.com) —  The South Jelken uranium deposit is nearing the final stage of preparation for industrial development. This was announced by Benoit Lemonne, CEO of the joint venture Nurlikum Mining, during the Tashkent International Investment Forum.

Since its establishment in late 2019, Nurlikum Mining — a joint venture between French corporation Orano and the Uzbek state enterprise Navoiuran — has carried out extensive geological exploration. Over the past five years, more than 200,000 meters of drilling has been completed, along with a series of pilot projects.

“South Jelken is one of Uzbekistan’s key uranium deposits, and it’s now almost ready for production. We expect a final decision on the launch in the coming weeks or months — but in any case, before the end of this year,” Lemonne stated.

He emphasized the exceptionally rapid pace of the project, noting that reaching the production phase in under six years from the company’s founding sends a strong positive signal to international investors in the mining sector.

Nurlikum Mining was officially established on 3 December 2019, with the goal of developing Uzbekistan’s uranium resources. Initially, the joint venture was composed of Orano and Navoiuran. In March this year, Japanese corporation ITOCHU joined the project by acquiring a minority stake.

Currently, Nurlikum Mining holds two exploration licenses for uranium sites in the North and South Dzhetymbay areas of the Navoi region, granted in October 2020.