Sojitz signs accord to explore for Uzbekistan uranium

TOKYO, Oct 9 (Reuters) - Japanese trading house Sojitz Corp (2768.T) and Uzbekistan agreed on Thursday to look into forming a joint venture to explore for uranium in the Central Asian country.

Securing new exploration projects in Central Asia is key to Japan, which is the world's third-biggest nuclear power generator. It currently imports some 60 percent of its uranium from Australia and Canada.

Sojitz was granted exclusive negociating rights for 18 months with the government for the development of the Chetbertoye mine, about 350 kilometres west of Tashkent, the trading house said in a statement.

If a final agreement is reached, the joint venture plans to explore for underground resources after acquiring the proper license, as well export and sell to overseas electric power companies all uranium produced.

Sojitz follows Mitsui & Co (8031.T), Japan's second-largest trading firm, which agreed with Uzbekistan in July to look at forming a joint venture to search for uranium in the central part of the country. [ID:nT248478]

According to the International Atomic Energy Agency, Uzbekistan holds 93,000 tonnes of deposits, equivalent to about 3 percent of the world's uranium resources.

The country has been wooing resource-poor Japan since last year to deepen cooperation and jointly explore the country's uranium reserves. (Reporting by James Topham; Editing by Kim Coghill)