Kazatomprom of Kazakhstan and AREVA sign strategic agreement
ALMATY. April 10 (Interfax) - France's AREVA and Kazakhstan's National Atomic Company Kazatomprom inked a strategic agreement to strengthen their long-standing cooperation in the uranium mining sector in Kazakhstan, Kazatomprom says in a press release.
The official signing ceremony took place Monday in Astana in the presence of Kazakh Minister of Energy Kanat Bozumbayev, AREVA Chairman of the Board of Directors Philippe Varin. The document was signed by Kazatomprom CEO Askar Zhumagaliyev and AREVA CEO Philippe Knoche.
"This agreement, which is in the interests of Kazakhstan and France, opens new opportunities for further development and enhancement of effective operations of their joint-venture KATCO, AREVA (51%) and KAZATOMPROM (49%). It will bring additional value for both shareholders of the company," the press release says.
"In the frame of the longstanding nuclear cooperation between KAZAKHSTAN and FRANCE, this agreement strengthens our twenty-year partnership with KAZATOMPROM for the mutual economic benefit of the two partners. It gives KATCO a new long term perspective with the development of the South Tortkuduk project which will extend its production for the next two decades," Philippe Knoche is quoted as saying.
"It is symbolic that we sign the strategic agreement with our reliable partners in the year of celebrating the 20th anniversary of Kazatomprom. A positive example of mutually beneficial cooperation is the successful implementation of joint projects in the nuclear fuel cycle. In addition, the provisions of the agreement correspond to the tasks set by the Head of State N.Nazarbayev to preserve leadership in the uranium mining market and to create a competitive nuclear company in the world", said Askar Zhumagaliyev.
Created in 1996, the KATCO joint venture has become the largest uranium mining enterprise in Kazakhstan. The company develops Moinkum mine in the South Kazakhstan region, using in situ recovery (ISR) method.
Kazatomprom is the national operator of the Republic of Kazakhstan for export of uranium and its compounds, rare metals, nuclear fuel for nuclear power plants, special equipment, technologies and double-use materials.
AREVA is the world's largest manufacturer of nuclear power station equipment. The company also produces enriched uranium.