“Uzbekistan is ready to supply uranium concentrate to Russia, but the global financial crisis and falling uranium prices impede expanding cooperation in this sphere,” Karimov said.

In 2006, Russia and Uzbekistan signed a protocol of intent to jointly develop Uzbekistan’s Aktau uranium field. The joint venture was initially expected to start operating at the end of 2006, but the sides have not so far reached any agreements to set up the joint venture.

Proved and estimated uranium reserves in Uzbekistan amount to 185,800 tonnes.