The agreement was inked in the presence of Mr. Banri Kaieda, Minister of Economy, Trade and Industry of Japan and Rustam Azimov, First Deputy Prime Minister and Minister of Finance, and Ms. Galina Saidova, Minister of Foreign Economic Relations, Investments and Trade of Uzbekistan.

Uranium demand is expected to increase due to the necessity of greenhouse gas emission reduction and the expansion of global nuclear power generation. Itochu, with the long-term, large-scale sale and purchase agreement of uranium concentrates with NGMK for 10 years, will remain committed greatly to the stable supply of uranium to Japan.

Itochu did not elaborate on the sum of the deal or the volume of uranium supplies from Uzbekistan to Japan. Japanese company said that new purchase contract with Uzbekistan surely adds to energy security of Japan.

According to World Nuclear Association data from 2010, Uzbekistan has 111,000 tonnes of uranium, the 12th highest amount in the world, and produces an annual 2,429 tonnes, seventh globally.