France’s Areva and Kazkahstan’s KazAtomProm to boost uranium production by 21.2%

KATCO JV of France’s Areva and Kazkahstan’s KazAtomProm National Nuclear Company plans to boost uranium production output by 21.2% starting from 2012 up to 4 000 tons a year, the Company reported October 18. As of today the Company produces over 3000 tons of uranium a year. 51% of the shares belong to Areva Group with the other 49% owned by KazAtomProm. The JV was established in 1996 to mine uranium at Moiynkum and Tortkuduk mines in South Kazkahstan. Earlier tengrinews.kz reported that Kazakhstan may boost uranium production to 30 000 tons a year, Sergey Yashin, KazAtomProm Nuclear Company Vice Chairman of the Board, said speaking at the VI KAZENERGY international forum in Astana October 5. “As of today annual production output stands at about 20 000 tons, that is 33% of the global production. We can reach 25-30 000 tons a year if needed”, he said, adding that “further increase in uranium production output is only possible in case of the market demonstrating further demand”. “Kazakhstan has extracted only 4.2% of its overall reserves so far”, he elaborated. In 2009 the uranium production output grew from 8521 in 2008 to 14 020, enabling Kazakhstan to become the global leader in terms of production. Estimated uranium production output in 2011 stands at 19 800 tons. For the first 8 months Kazakhstan produced a total of 12 284 tons of uranium, Profinance.kz quoted the Press Service of KazAtomProm National Nuclear Company September 28. KazAtomProm is Kazakhstan's major exporter of uranium and its compounds, rare metals, nuclear fuel for nuclear power stations, special equipment, technologies and dual-usage materials.