Tuesday, November 22, 2005

Kazakhstan aims to be top uranium producer

Kazakhstan aims to be top uranium producer

ASTANA, Kazakhstan (UPI) -- Kazakhstan said Friday it plans to work with two Japanese companies to become the world`s top uranium producer within five years.

State-owned KazAtomProm will work with Sumitomo Corp. and Kansai Electric Power Co. to increase Kazakh uranium yearly output from 4,000 tons to 15,000 tons, thus exceeding the production of Canada`s Cameco Corp., the world`s current top uranium producer, KazAtomProm said in a statement.

The company`s head, Mukhtar Jakishev, said KazAtomProm planned to spend about $600 million building new mines and upgrading existing ones.

KazAtomProm is also negotiating such projects with the China National Nuclear Corp. and has plans to establish a joint venture with South Korean companies Korea Hydro & Nuclear Power Co. and Korea Resources Corp.


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