Kazakhstan to be the World First Producer of Uranium by 2010

ASTANA, Kazakhstan, May 9, 2005 /PRNewswire

According to respective industry news source on the nuclear fuel cycle - UX Weekly (by the UX Consulting Co, USA) - the Republic of Kazakhstan became the third uranium producer in the World (9.4%) in 2004, following Canada (29.2%) and Australia (22.6%). Kazakhstan has produced 3,719 metric tons of uranium last year including Kazatomprom (3636mtu) own output and minor quantities of its joint ventures and Stepnogorsk Mill. It's a 45% increase compared to 2003 production.

The National Company is planning to produce more than 4 thousand tons of uranium in 2005 and to increase annual production up to 15 000 tons by 2010 - which will put Kazakhstan in first place among uranium producers. The country reserves are said to be of 1.5 million tons, which means nearly 20% of the world's total supply of uranium.

Kazakhstan plans to develop seven uranium mines by 2010. The seven new sites should be developed on the fields of Budenovskoe and Mynkuduk in southern Kazakhstan.

The company has assessed that the uranium mining project would recover its expenses by 2013. By then, uranium profits would reach $830 million.

The International Atomic Agency has forecast a shortage in the uranium market by 2010. The IAEA said the market supply would decrease and reach a deficit of 16 000 tons by 2015.

About Kazatomprom

In 1997, the Government of the Republic of Kazakhstan decided to unite uranium and rare metal industries into one commercial structure representing interests of Kazakhstan on the world markets of nuclear fuel cycle and rare metals - a closed joint stock company Kazatomprom - National export and import organization for uranium and other materials of dual use. Kazatomprom retains the exclusive rights to market Kazakh uranium.

Kazatomprom produces natural uranium, nuclear fuel for power stations, products and byproducts of beryllium, tantalum, niobium and its alloys. Successful cooperation with defence-related enterprises of the former Soviet Union and with the nuclear fuel fabricators worldwide is the best proof of its high quality production.

Kazatomprom is regulated in accordance with International Atomic Energy Agency (IAEA) standards and is an active member of the World Nuclear Association and the International Tantalum and Niobium Study Center.

SOURCE Government of Kazakhstan

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