MINEX Forum

Tag: Orano

  • Katco JV Boosts Uranium Output to 3,700 Tonnes in 2025, Strengthening Orano’s Overseas Portfolio

    Katco JV Boosts Uranium Output to 3,700 Tonnes in 2025, Strengthening Orano’s Overseas Portfolio

    The uranium joint venture Katco, owned by France’s Orano (51%) and Kazakhstan’s Kazatomprom (49%), produced more than 3,700 tonnes of uranium in 2025, marking a significant increase in output following the commissioning of the South Tortkuduk section at the Moinkum deposit.

    The figures were disclosed during a conference call by Orano, which confirmed that production at Katco rose from just under 2,400 tonnes in 2024 to slightly above 3,700 tonnes in 2025. Katco operates at the South and Tortkuduk sections of the Moinkum uranium field in the Sozak district of Turkestan region.

    Development of the South Tortkuduk project, formalised through an additional agreement in 2022, has enabled the joint venture to extend production by up to 15 years while targeting annual output of around 4,000 tonnes. A new uranium processing plant under the South Tortkuduk project was launched in July 2024, with production from the new section gradually replacing output from older mining areas.

    According to Kazatomprom’s annual reports, Katco produced 2,564 tonnes in 2022, 2,103 tonnes in 2023 and 2,388 tonnes in 2024, underscoring the scale of the 2025 increase. As of the end of 2024, Katco’s uranium reserves stood at 47,900 tonnes. Based on 2025 production levels, reserves may have declined to approximately 44,200 tonnes by year-end. With a subsoil use contract valid until 2039, sustained production at 4,000 tonnes per year would allow remaining reserves to be mined over roughly 11 years.

    Financially, Katco remains one of Orano’s most profitable international uranium assets. In 2025, the Kazakh joint venture generated €628 million in revenue and €324 million in net profit, compared with €479 million and €273 million respectively in 2024.

    Kazatomprom’s share of net income amounted to €159 million, reflecting its 49 percent ownership stake, along with an additional €36 million under a previously agreed 11 percent profit distribution arrangement valid through the end of the contract period. This implies that Orano’s net income from Katco in 2025 totalled approximately €129 million, a significant contribution given the French group’s adjusted net loss of €25 million for the year.

    During the call, Orano’s management also indicated plans to expand exploration activities into Canada, Botswana, Australia and Mongolia, as the company seeks to diversify its uranium portfolio following the loss of operations in Niger, which had previously accounted for a substantial share of its global production.

  • South Jelken uranium deposit in Uzbekistan is set for launch by end of 2025

    South Jelken uranium deposit in Uzbekistan is set for launch by end of 2025

    On June 13, 2025, Benoit Lemonne, CEO of Nurlikum Mining, announced that the South Jelken uranium deposit in Uzbekistan is expected to begin industrial development by the end of 2025. This statement was made during the Tashkent International Investment Forum.

    Nurlikum Mining, a joint venture formed in late 2019 between France’s Orano and Uzbekistan’s Navoiuran, has conducted extensive geological exploration over the past five years, including over 200,000 meters of drilling and various pilot projects. Lemonne highlighted the rapid progress of the project, reaching the production phase in under six years, which he believes will attract further international investment in the mining sector.

    In March 2025, Japanese corporation ITOCHU acquired a minority stake in Nurlikum Mining. The company currently holds two exploration licenses for uranium sites in the North and South Dzhetymbay areas of the Navoi region, granted in October 2020.

  • Orano and Navoiyuran Sign Agreement to Develop South Djenghildy Uranium Deposit in Uzbekistan

    Orano and Navoiyuran Sign Agreement to Develop South Djenghildy Uranium Deposit in Uzbekistan

    French nuclear giant Orano and Uzbek state-owned Navoiyuran have signed a groundbreaking agreement to advance the industrial development of the South Djenghildy uranium deposit in Uzbekistan. The partnership, facilitated through their joint venture Nurlikum Mining, aims to significantly boost uranium production, reaching up to 700 tons annually within a decade.

    The agreement integrates the South Djenghildy project into Navoiyuran’s existing industrial infrastructure, with the Uzbek company serving as the project operator. Notably, the deal introduces a new partner, Japanese corporation ITOCHU, which has acquired a minority stake in the joint venture. While specific ownership details remain undisclosed, the collaboration underscores a shared commitment to advancing the mining project.

    Orano highlighted that the partnership reflects the determination of all parties to expand the South Djenghildy project, leveraging certified resources to ensure stable uranium production for at least ten years. The project is part of a broader strategic framework agreement signed between Orano and Uzbekistan in 2022, which also includes plans for extensive geological exploration to potentially double the joint venture’s mineral resources.

    Xavier Saint-Martin Tillet, Senior Executive Vice President of Orano Mining, emphasized the project’s role in diversifying the group’s raw material sources. He noted that Orano is applying its geological and technical expertise to further develop the initiative.

    Navoiyuran, the fifth-largest uranium producer globally, specializes in uranium mining and processing, supplying uranium oxide to meet the growing global demand for clean energy. The partnership aligns with Uzbekistan’s ambitions to strengthen its position in the global uranium market.

    In related developments, KATCO, a joint venture between Orano Mining and Kazakhstan’s Kazatomprom, announced plans to launch a uranium processing complex at the Moyynkum deposit in Kazakhstan’s Turkistan region by mid-2025. The facility is expected to produce 2,045 tons of uranium annually, contributing to a total output of 4,000 tons per year.

  • Orano Launches Uranium Mining Project in Uzbekistan with Nurlikum Mining JV

    Orano Launches Uranium Mining Project in Uzbekistan with Nurlikum Mining JV

    French nuclear fuels company Orano announced on Wednesday that it will begin developing the South Djengeldi uranium mining project in Uzbekistan. This initiative is part of its Nurlikum Mining joint venture with Navoiyuran, Uzbekistan’s state-owned mining company. The project is expected to operate for over a decade, with peak production projected at 700 metric tons of uranium annually, according to Orano’s statement.

    In a significant development, Japan’s ITOCHU Corporation has acquired a minority stake in the joint venture. The partners plan to launch an exploration program aimed at at least doubling the joint venture’s mineral resources. This collaboration underscores the growing international interest in Uzbekistan’s uranium reserves and highlights the country’s strategic importance in the global nuclear energy sector.

    The South Djengeldi project marks a key step in Orano’s expansion efforts and strengthens its partnership with Uzbekistan, a country rich in uranium resources. The involvement of ITOCHU Corporation further enhances the project’s potential, bringing additional expertise and investment to the venture.

  • Orano and Mongolia Sign $1.6bn Deal for Uranium Project

    Orano and Mongolia Sign $1.6bn Deal for Uranium Project

    France’s Orano Group has partnered with Mongolia’s government to develop the Zuuvch-Ovoo uranium mine, a $1.6 billion project in Dornogovi province. The agreement, signed in Ulaanbaatar, signifies a step forward for Mongolia’s mining sector and global low-carbon energy goals. Orano, in collaboration with Mongolia’s MonAtom Group, will oversee operations through their joint venture, Badrakh Energy.

    The mine, with an estimated 90,000 tonnes of uranium reserves, will leverage in-situ recovery methods. An initial $500 million investment will lead to production starting in 2028, creating 1,600 jobs and boosting Mongolia’s economy. With a projected output of 2,500 tonnes annually over 30 years, the project aligns with Mongolia’s Vision 2050 goals.

    Orano CEO Nicolas Maes emphasized the mine’s role in promoting low-carbon energy. Prime Minister Oyun-Erdene Luvsannamsrai celebrated the partnership as a milestone for economic growth and international collaboration, strengthening ties between Mongolia and France.

  • Western Dependence on Russian Nuclear Fuel Faces Increased Scrutiny

    Western Dependence on Russian Nuclear Fuel Faces Increased Scrutiny

    The Western reliance on Russian nuclear fuel has come under intensified scrutiny, with Orano, a major uranium supplier in the West, urging for either increased incentives or stricter sanctions to stimulate investment in alternative fuel sources. Nicolas Maes, the CEO of Orano, highlighted the necessity of long-term contracts to justify substantial investments in new uranium enrichment capacities. While the United States has already imposed a ban on Russian nuclear fuel imports, Europe’s ongoing dependence on Russian fuel complicates efforts to reach a consensus on similar sanctions.

    Orano is proactively addressing this issue by expanding its uranium enrichment facility in France, with production targeted by 2028. However, the project demands significant investment and assured demand to move forward effectively. Meanwhile, geopolitical tensions and supply chain issues continue to challenge uranium production globally, complicating the shift toward alternative nuclear fuel sources.

  • Mongolia’s Long-Delayed Uranium Project by Orano Could Begin Production by 2030

    Mongolia’s Long-Delayed Uranium Project by Orano Could Begin Production by 2030

    French state-controlled mining company Orano SA announced that its long-awaited uranium project in Mongolia, the Zuuvch Ovoo mine, could begin production by 2030, following five years of construction. The project’s future hinges on the signing of an investment agreement, with a confirmation vote scheduled for the current session of Mongolia’s parliament.

    Orano’s representative in Mongolia, Olivier Thoumyre, revealed that the mine could become the largest in the country since Rio Tinto’s Oyu Tolgoi copper-gold project. Zuuvch Ovoo has been in development for over a decade, initially launched by Orano’s predecessor, Areva SA, in partnership with Mongolia’s state nuclear company, Mon-Atom.

    The global demand for uranium is on the rise as countries such as China continue to build nuclear power plants, and other nations in Europe and Asia focus on nuclear energy as part of their strategies to reduce carbon emissions. This growing demand positions Mongolia to potentially become a key player in the uranium market, according to Thoumyre, who spoke at an industry event in Nalaikh, near Ulaanbaatar.

    The reappointment of Prime Minister Oyun-Erdene Luvsannamsrai in July has provided a sense of stability, encouraging continued negotiations between the Mongolian government and Orano. Discussions on the project’s terms, which began a year ago, have remained active, Thoumyre added.

  • Uzbekistan’s Uranium Deposits Attract Foreign Investors

    Uzbekistan’s Uranium Deposits Attract Foreign Investors

    Representatives of the China Nuclear Uranium Corporation (CNUC) met with the general director of state company Navoiuran, Jamal Faizullaev, to discuss the possibility of mining black shale uranium at the Jantuar and Ma’danli deposits in the Navoi region of Uzbekistan. Samples have already been taken from the deposits to complete geological studies.

    According to the International Atomic Energy Agency (IAEA), Uzbekistan ranks seventh in the world in terms of uranium reserves, and fifth in terms of uranium production. Until 1991, all uranium mined and processed in Uzbekistan was shipped to Russia, but since 1992, virtually all Uzbek uranium has been exported to the U.S. and other countries through Nukem Inc. In 2008, South Korea’s Kepco signed agreements to purchase 2,600 tons of uranium over six years through 2015 for about $400 million. In May 2014, China’s CGN agreed to purchase $800 million worth of uranium through 2021.

    In November 2023, state-owned Navoiuran and China National Nuclear Corporation (CNNC) signed a memorandum of cooperation on uranium mining and processing. CNNC is the main investor in Chinese nuclear power plants. The company currently has 22 operating units, six units under construction, and is the largest uranium producer in China.

    Besides Chinese investors, Uzbek uranium reserves continue to attract other major market players. In January 2006, Russia’s Techsnabexport, a subsidiary of JSC Atomredmetzoloto, signed a memorandum of understanding with Navoi Mining and Metallurgical Combine (NMMC) and the State Committee on Geology (Goskomgeologiya) to establish a joint venture for uranium mining at the (JV) Aktau deposit. The JV was originally scheduled to begin operations in late 2006, but after four years of negotiations, no agreement was reached, and Russia withdrew in mid-2010.

    In October 2007, Japan’s Itochu Corporation agreed with NMMC to develop technology for the extraction and processing of black shale uranium at the Rudnoye deposit. In mid-2008, Mitsui & Co. signed a basic agreement with Goskomgeologiya to establish a JV for geological research in the development of black shale uranium resources at the Zapadno-Kokpatasskaya mine, 300 km northwest of Navoi. Then, in mid-2009, Goskomgeologiya and the Japan Oil, Gas and Metals National Corporation (JOGMEC) signed an agreement on exploration for uranium and rare-earth metals in the Navoi region with the stipulation that JOGMEC receive 50% of the extracted raw materials. In August 2013, JOGMEC received a license for uranium exploration at two sandstone deposits for five years.

    During the November 2023 state visit by French President Emmanuel Macron to Uzbekistan, President Shavkat Mirziyoyev held a meeting with Orano Chairman, Claude Imoven. The meeting discussed the prospects of cooperation with the French company in the field of geological exploration and uranium mining in Uzbekistan. France’s Orano is the world’s largest producer of uranium and nuclear fuel, with assets totalling €29 billion.

    Uzbekistan’s uranium production increased to 3,560 tons in 2022 from 2,385 tons in 2015. Furthermore, President Mirziyoyev has approved an ambitious uranium production target of 7,100 tons in 2030.

  • France’s $1.6bn uranium deal with Mongolia faces delays

    France’s $1.6bn uranium deal with Mongolia faces delays

    A $1.6-billion uranium mining deal between France and Mongolia, aimed at diversifying supplies for France’s nuclear reactors, faces political obstacles that may delay its finalization until after the upcoming elections in June, sources familiar with the matter revealed. The agreement, concerning the development and operation of the Zuuvch-Ovoo mine, was initially outlined during a visit to Paris by Mongolia’s President, Khurelsukh Ukhnaa, in October, with expectations for a final investment agreement by the end of last year and production commencement in 2028.

    However, setbacks including the resignation of Mongolia’s chief negotiator and concerns over safeguarding strategic resources have led to delays and necessitated the redrafting of the deal. The potential postponement or cancellation of the project poses challenges for Orano, the French uranium producer, which views the plan as vital for expanding its supply sources amidst increasing global demand.

    While Mongolian government representatives were unavailable for immediate comment on the contract delays, Orano affirmed ongoing negotiations and expressed optimism regarding finalizing the agreement promptly. The context of the deal underscores France’s efforts to bolster Mongolia’s strategic sovereignty amid its positioning between influential neighbors Russia and China, with the aim of reducing dependency on external energy sources.

    However, geopolitical tensions and Russia’s assertive stance in the region, coupled with Mongolia’s energy vulnerabilities, have added complexities to the negotiation process. The situation underscores the broader geopolitical dynamics at play, including heightened competition for access to critical resources and influence in strategic regions.

  • Orano names start date for uranium mining at new plot in Kazakhstan

    Orano names start date for uranium mining at new plot in Kazakhstan

    BAKU, Azerbaijan, November 12. Uranium mining at the Kazakhstan’s South Tortkuduk plot by the KATCO, the joint venture between French Orano Mining and Kazatomprom (Kazakhstan’s national nuclear company), will begin at the end of 2023, a source at Orano told Trend.

    “Kazakhstan is the world’s largest uranium producer.” Orano is present in the country through KATCO, a joint venture created in 1996 by Orano Mining (51 percent) and Kazatomprom (49 percent) to develop and utilize the uranium resources of Muyunkum and Tortkuduk in the Turkestan region, about 300 kilometers north of Shymkent,” according to the source.

    According to the corporation, it now employs over 1,200 people and operates an ISR mine with an annual capacity of approximately 4,000 tons of uranium. Over the last 20 years, KATCO has produced more than 40,000 tons of uranium from the two deposits.

    “In August 2022, KATCO and the Ministry of Energy in the Republic of Kazakhstan signed an amendment to the existing subsoil utilization contract to exploit the South Tortkuduk plot. Exploitation of this new plot should guarantee KATCO production for around fifteen years. Production from the new deposit is due to begin towards the end of 2023,” the source said.

    The source pointed out that Orano Mining and the Kazakh National Company Kazatomprom signed a memorandum of cooperation on November 29, 2022.

    “Through this memorandum, Orano Mining and Kazatomprom state their intention to maintain and strengthen their cooperation in the uranium mining industry, building on their existing successful partnership,” the company added.

    As the chief operating officer of the Orano group previously stated at a meeting with the management of Kazakhstan’s Samruk-Kazyna JSC (Sovereign Wealth Fund), French Orano S.A. intends to expand areas of cooperation with Kazakhstan, including the implementation of joint strategic projects outside the country.

    On September 29, 2023, Kazakhstan’s Kazatomprom presented its strategy for uranium production for 2025. The Board of Directors of Kazatomprom approved the company’s strategy to increase uranium production volumes in 2025 to 100 percent of the level planned under subsoil use contracts.

    Kazakhstan ranks second in the world in terms of proven reserves of natural uranium. About 14 percent of all proven world reserves are concentrated in the depths of the Republic of Kazakhstan. The country’s total proven reserves are estimated at more than 700,000 tons of uranium.

    In 2009, Kazakhstan took first place in uranium production in the world and continues to maintain a leading position in the world market. Kazakhstan produces about 40 percent of the world’s uranium production. In 2021, the volume of uranium production amounted to 21,800 tons, according to the results of 2022 – 21,300 tons.