Tag: energy projects

  • Kazakhstan and Uzbekistan Strengthen Cooperation with New Agreements on Geology, Rare Metals and Energy Projects

    Kazakhstan and Uzbekistan Strengthen Cooperation with New Agreements on Geology, Rare Metals and Energy Projects

    Kazakhstan’s President Kassym-Jomart Tokayev and Uzbekistan’s President Shavkat Mirziyoyev met on November 15 at the Kuksaroy residence near Tashkent, where the two leaders advanced bilateral cooperation across key industrial sectors. According to lsm.kz, the talks focused on joint initiatives in the oil and gas industry, as well as mining and metallurgy.

    Among the signed documents was a decision by the Higher Interstate Council to establish a bilateral working group on geology and the extraction of rare and rare earth metals. The presidents also endorsed a Memorandum of Understanding between Kazakhstan’s Ministry of Industry and Construction and Uzbekistan’s Ministry of Mining and Geology to expand collaboration in the sector.

    The countries additionally approved a framework agreement to launch joint projects in the oil and gas chemical industry. One of the major initiatives under consideration is a partnership between KazMunayGas and Uzbekneftegaz to build a new linear alkylbenzene production complex in Uzbekistan’s Kashkadarya region, with a planned output capacity of up to 50,000 tonnes per year. A final investment decision will be made after completion of the project design phase.

  • Mongolia and France’s Orano Group Reach Preliminary $1.6 Billion Uranium Mining Deal

    Mongolia and France’s Orano Group Reach Preliminary $1.6 Billion Uranium Mining Deal

    Mongolia has announced a preliminary agreement with Orano Mining Group, a leading French uranium producer, to develop a significant uranium mining project worth $1.6 billion. This project will commence its preparatory phase in 2024, with the goal of initiating uranium production by 2028. The peak production target of 2,600 metric tons is expected by 2044. The government emphasized the importance of this agreement in promoting foreign investment and creating substantial employment opportunities for the Mongolian workforce.

    Orano has been present in Mongolia for over 25 years, conducting extensive exploration activities. The French company, with established mining operations in regions such as Canada, Kazakhstan, and Niger, is expected to bring its expertise to the country’s uranium sector. This agreement follows years of anticipation and is viewed as a strategic move to enhance Mongolia’s role in the global uranium market. However, a previous announcement about the finalization of the agreement was corrected, confirming that only a preliminary deal had been reached.