New stages of cooperation between Uzbekistan and Mongolia in the field of geological exploration and mining industry

Mongolia: rich in mineral resources and potential for cooperation

Mongolia is located in Northeast Asia with a population of about 3.5 million people and an area of more than 1.56 million square kilometers. This state, despite its relatively small population, has huge natural resources, including large reserves of uranium, gold, copper and other rare earth metals. According to the World Nuclear Association, Mongolia ranks 12th in the world in terms of uranium reserves, its confirmed resources are about 60.5 thousand tons of uranium, and geological studies, in turn, show the potential of up to 1.32 million tons of uranium. Gold and copper also play an important role in the country's economy. Mongolia has one of the leading copper exports in the world, its gold mining industry holds a significant share in exports and as of 2019 accounts for 90 percent of total mineral production.

Mongolia already has large international mining companies. The French company Orano Mining, one of the world leaders in the uranium industry, is actively searching and developing deposits such as Zuuvch-Ovoo and Dulan-Uul, with a total investment portfolio of $1.6 billion. The Russian company Rosatom Nedra also plans to create a joint venture for the development of uranium deposits, which has a long history of cooperation with Mongolia. In addition, exploration and mining companies in China, Kazakhstan and the Czech Republic operate in this country. Despite the activity of foreign players, Mongolia's potential remains untapped, which opens up wide prospects for new cooperation.

Uzbekistan: leading country in uranium and rare earth metals mining

With many years of experience in the mining industry, Uzbekistan has proven itself to be one of the world leaders in uranium, gold and copper mining. According to the World Nuclear Association, in 2022 Uzbekistan produced about 3,300 tons of uranium, which provided about 7 percent of world production and made it the fifth largest in the world in terms of production. The country's approved uranium reserves amount to more than 130 thousand tons, and its ambitious goal is to increase uranium production by 3 times by 2030.

The main participant in the uranium industry of Uzbekistan is the state-owned enterprise Navaiuran. Navoiuran specializes in uranium mining and processing using advanced in-situ leaching (ISL) technologies, which allows efficient extraction of uranium from low-level ores. The company actively cooperates with such international partners of France as Orano, with whom in 2019 a joint venture Nurlikum Mining was created to develop the Jengeldi field. In addition, agreements were signed with the China National Uranium Corporation (CNUC) and the China General Nuclear Energy Corporation (CGNPC) for the exploration and joint development of uranium territories.

Uzbekistan also shows outstanding results in the field of gold and copper mining. Navoi Mining and Metallurgical Company (NMMC), originally part of Navoiuran, is the largest gold mining enterprise in Central Asia and makes up a significant part of the country's exports. Almalyk Mining and Metallurgical Complex JSC (AMMC) specializes in the extraction of copper, lead and zinc, as well as rare earth metals. These enterprises have advanced technologies and highly qualified specialists, which makes Uzbekistan an attractive partner for international cooperation in the mining industry.

Development of cooperation between Uzbekistan and Mongolia

Relations between Uzbekistan and Mongolia are rapidly developing and create a solid foundation for cooperation in the mining industry. An important event was the visit of the President of Mongolia, Mr. Ukhnaagiin Khurelsukh, to Uzbekistan, at which agreements were signed aimed at strengthening economic and political ties. One of the important achievements will be the establishment of direct flights between Tashkent and Ulan Bator, which will significantly simplify business ties and serve the development of trade and economic cooperation. In the near future, the visit of the President of Uzbekistan, Mr. Shavkat Mirziyoyev, to Mongolia is expected, which will open up new opportunities for the implementation of joint projects.

Within the framework of bilateral cooperation, special attention is paid to the exploration and mining industry. Mongolia, possessing uranium, gold, copper and other minerals, seeks to diversify its mining partners, and Uzbekistan is an ideal candidate for such cooperation with its experience and technological capabilities. The Uzbek side has great potential to participate in exploration projects in Mongolia, especially in the exploration and production of uranium and other minerals such as gold and copper.

Prospects for cooperation and the role of the state enterprise "Navoiuran"

Navoiuran plans to actively participate in uranium mining in Mongolia, using its rich experience and advanced technologies. The company intends to apply the proven in-situ washing method in Uzbekistan, as well as introduce innovative approaches to geological exploration, developed jointly with international partners such as Orano and CNUC. In addition, Navoi Mining and Metallurgical Company (NMMC) is considering the possibility of participating in projects for the extraction of other metals, such as gold and copper, which serve to strengthen economic ties between countries.

Cooperation between Uzbekistan and Mongolia in the field of exploration and mining has every chance of becoming an example of a successful partnership based on mutual interests and exchange of experience. As a leader in the uranium industry, Navoiuran is ready to make a significant contribution to the development of Mongolia's mining industry, the economic growth of both countries and the strengthening of their positions in the global mineral market.

In order to ensure the implementation of the Resolution of the Cabinet of Ministers of the Republic of Uzbekistan, Uzbek overseas geology company LLC was established under the auspices of Uzbek Geological Exploration JSC and Uzbekgeofizika JSC, the main function of which is to conduct prospecting work.

In view of the above, on June 5-13 of this year, a delegation consisting of employees of Uzbek overseas geology company LLC and SE Navoiuran visited Mongolia and carried out the planned work.

In particular, the necessary documents for opening a branch (representative office) of Uzbek overseas geology company LLC in Ulan Bator were issued in Mongolian, these documents were transferred to the Mongolian justice authorities for registration, the state duty was paid, and within 10 working days the local justice authority will issue a corresponding certificate of opening a branch (representative office) of Uzbek overseas geology company LLC and the beginning of its activities

The building was selected for the representative office of Uzbek overseas geology company LLC and a lease agreement was signed.

The opening of a representative office of Uzbek overseas geology company LLC in the capital of Mongolia, Ulan Bator, is a sign that economic relations between Uzbekistan and Mongolia are reaching their peak.