Investing.com -- Japanese trading house Itochu Corporation has secured a minority stake in a uranium mining project in Uzbekistan. The South Djengeldi project, a joint venture between Orano and Navoiyuran, is expected to see increased demand.

The deal was announced by Orano, which outlined that the South Djengeldi project would be integrated into the existing industrial base of Navoiyuran, which will operate the project.

This development marks the entry of Itochu into the venture, adding a new partner from Japan to the project. The trading house’s investment in the uranium mine underscores its expectation for higher demand in the sector. The specifics of the deal, including the exact stake that Itochu has acquired, were not disclosed in the announcement.

Orano and Navoiyuran’s agreement lays the groundwork for the industrial development of the South Djengeldi uranium mining project under their joint venture, Nurlikum Mining . The integration of the project into Navoiyuran’s existing industrial base is expected to streamline operations and potentially boost the project’s output.

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