During business trip, Avzal Mirabdullaev, Deputy Director of “Uzbek Overseas Geology Company” LLC, held talks with representatives of state-owned company “Mon Atom” and discussed conducting geological exploration at promising uranium deposits in Mongolia by 2026.

Specifically, signing of a strategic agreement between Mines of Mining and Geology and organizations of two countries was discussed, as well as the submission of documents to Mongolian licensing authority in accordance with strategic agreement by signing a service agreement between “UZBEK OVERSEAS GEOLOGY COMPANY” LLC and the state-owned company “Monatom”, and preparation of a set of necessary documents for promising uranium deposits, specifically regarding development of geological and environmental projects, preparation of necessary certificates, and information to be provided at upcoming government meeting in April of this year.

During the meeting, which will take place in April, the Strategic Agreement and Service Agreement will be signed, and state-owned company “Mon Atom” will develop aforementioned project documents and submit them to organizations responsible for obtaining necessary licenses.

At the same time, negotiations are underway to sign contracts with drilling and geophysical companies operating in Mongolia for geological exploration based on expected licenses.

This year, relevant licenses are planned to be obtained and geological exploration work to be conducted in areas of Mongolia with promising uranium deposits. According to preliminary design documentation, approximately 60,000 meters of drilling are planned across entire complex at sites allocated during initial phase. Based on preliminary work, potential reserves of these sites will be determined and a detailed exploration program for subsequent stages will be developed.