KazAtomProm’s 2012 plans

KazAtomProm National Nuclear Company plans to inject over $20 million to finance geological exploration operations in 2012-2015, Newskaz.ru reported the Company’s Head Vladimir Shkolnik as saying February 3. According to him, 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. In the Q3 2011 the Company plans to launch production of rare earth metals at its Stepnogorsk-based facility. “To launch new high-tech facilities producing rare and rare earth metals, the Company set up two JVs with Toshiba and Sumitomo of Japan. In the Q3 we plan to launch pilot production of rare earth metals of up to 1.5 thousand tons. The figure is to raise to 5 thousand later on”, according to Mr. Shkolnik. Besides, in 2012 the Company plans to start construction of a plant to produce fuel assemblies at the Ulba Metallurgical Plant (UMP), one of the world's largest producers of nuclear power plant fuels. 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.