KazAtomProm Head reports to President Nazarbayev on the Company’s performance

KazAtomProm National Nuclear Company’s President Vladimir Shkolnik reported on the Company’s performance to President Nazarbayev today, the President’s Press Service reports. The statement reads that in the Q1 the Company met all its anticipated production targets. In January – March the Company produced a total of 2 600 tons of uranium, 4% up against the Q1 2011. The overall uranium production in Kazakhstan for the period under review made up 4 666 tons, almost 5% up against the Q1 2011. The Company’s consolidated revenues for the period totaled $346.9 million. Ulba Metallurgical Works (part of KazAtomProm) increased its beryllium production output by 32% against the Q1 2011 and its tantalum production output by 84%. According to Vladimir Shkolnik, in 2011 the Company produced a total of 19 450 tons of uranium, 9% up against 2010. Plans are there to increase the figure to 25 000 tons a year by 2015. Estimated net profit of KazAtomProm in 2011 made up $523.6 million. 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. 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.