The state enterprise will be organized using the Navoi Mining and Metallurgical Combine’s assets.
Nowadays, Navoi MMC ranks seventh in uranium mining and production of nitrous oxide in the world. It is the sole operator in Uzbekistan engaged in extraction of uranium and exporting finished products.
Uzbekistan supplies its uranium to Japan. It also signed a seven-year $300 million contract for uranium supply to the United States in 2017.
Indian UCIL signed a contract in August 2014 with Navoi MMC to purchase up to 500 tons of Uzbek uranium per year in a period from 2014 to 2018.
A new long-term contract was signed for exporting Uzbek uranium during Uzbekistan President Shavkat Mirziyoyev’s visit to India.