It is expected that the agreement will be sided within the 2012 Uzbekistan-US Annual Business Forum that will take place in Tashkent on 17 August.

Carolyn Lamm said that Almost 50 executives from the top US companies will take part in the business forum.

Lamm said that a new agreement between NUKEM Inc., one of the top providers of uranium to nuclear power plants worldwide, and Uzbekistan's state-owned Navoi Mining & Metallurgy Combinat may also be in the works.

"And I hear that we may even have a few very concrete contracts that may be signed coming out of the meetings at the Forum. So we have hopefully some enhanced business relationships and steps forward, including for potentially NUKEM with Navoi," she said.

NUKEM Inc. and NGMK have been cooperating on uranium supply since 1992. Till 2011, the US firm has exclusive right on supply or Uzbek uranium. In 2011, Japan’s Itochu and NGMK signed a ten year contract on regular purchase of uranium for communal sector of Japan.