CGNPC Uranium Resources Co (China) is planning to launch production of uranium in Navoi region of Uzbekistan in 2014, Prime Tass reported quoting the State Committee on Geology and Mineral Resources of Uzbekistan.

Source in the Uzbek committee said that CGNPC Uranium Resources and State Committee on Geology and Mineral Resources of Uzbekistan signed framework agreement to start development of uranium field Boztau in Central Kyzylkum.

In line with the agreement, the Chinese company will develop technology on separation of uranium and vanadium in 2011-2013.

The Chinese company is planning to construct mining complex after research and start uranium production in the second half of 2014, the committee’s official said.

In August 2009, Chinese company and the Uzbek committee created Uz-China Uran joint venture. The sides own 50% each in the venture, which has the charter capital of US$4.6 million.

In 2010-2011, the venture carried exploration work at the contract area and invested over US$2 million. After the exploration, several uranium fields were found, but its parameters are not disclosed.

According to the committee, forecast uranium reserves of Boztau area is about 5,500 tonnes.

In line with the creation of the venture, the Chinese company will receive primary right to purchase products of Uz-China Uran on world prices.

This is the first joint venture, which was created to develop uranium fields in Uzbekistan. The Uzbek committee postponed tenders on attracting investors to exploration of uranium fields due to market prices.