This financial year that ends on 31 March 2009, the company will inject 50 million yens (US$521,000). Under the contract exploration works will begin in the Navoi region, central Uzbekistan, in September.

JOGMEC is a state-run corporation that was set up back in 2004. It is responsible for ensuring stable supplies of oil, gas, non-ferrous metals and other mineral resources in Japan.

Japan’s businesses forecast a snowballing demand on uranium fuel, as many countries begin large-scale construction of new nuclear power plants.

Japan’s annual demand for uranium fuel is 9,000 tonnes. The country imports uranium mainly from Canada and Australia. It has also agreements on cooperation in this sphere with Kazakhstan, Uzbekistan and Mongolia.