The Committee on Geology and Natural Resources of Uzbekistan plans to set up the joint venture with Korea Resources Corp to develop Jantuar uranium deposit in Central Kyzylkums, the first deputy chairperson of the committee Ilkhom Turamurodov said at the MiningWorld Uzbekistan 2007 in Tashkent.

Turamurodov said the feasibility study of the project prepared and the Korean side approved it. Currently, the charter documents are developed. He added that it would be great if the sides complete development of charter documents. He said February is good month for signing charter documents.

The Uzbek official said the work on the project is carried in two directions. The first is further expansion of resources of the deposit with the continuing study and the second creation of the venture on development of Jantuar deposit.

Korea Resources and the Committee on Geology and Natural Resources of Uzbekistan signed the memorandum of understanding on creation of the joint venture on development Jantuar uranium deposit.

According to the Committee on Geology and Natural Resources of Uzbekistan, the explored and estimated reserves of uranium at the deposit make up 185,800 tonnes. Forecasted resources comprised 242,700 tonnes.