Astana, Kazakhstan, Nov.13
By Daniyar Mukhtarov - Trend: The Canadian and Kazakh governments signed a cooperation agreement on the peaceful use of nuclear energy on Nov.13 in Astana. The agreement was signed by Kazakh Minister of Industry and New Technologies Asset Issekeshev and Canadian Foreign Minister John Baird.
The document is designed to contribute to the inflow of technologies and additional investments in this sector. In particular, the agreement opens the door for the commencement of refining and further conversion of uranium ore for the production of fuel of nuclear power plants at the Ulba Metallurgical Plant ("UMP" JSC).
"This is the project for the conversion of uranium, that's to say, obtaining natural uranium which we produce here jointly with the Canadian company, converting it to a higher form necessary for production of fuel for nuclear plants," the head of "Kazatomprom" NAC " JSC Vladimir Shkolnik said after the signing ceremony.
According to Shkolnik, a new conversion plant will be built.
"The latest technologies provided by the Canadian "Cameco" company will be used in the new enterprise. A governmental agreement on the transfer of technologies is necessary for this," Shkolnik said.
According to the company's head these are waste-free technologies.
Today, Kazakhstan has facilities sufficient for the enrichment of 6,000 tons of natural uranium. Thus, a full technological chain is created for turning the Kazakh natural uranium into a form of nuclear fuel that is used in nuclear plants, the head of the Kazatomprom said.
"Such production is another step for creation of a full cycle of production of nuclear fuel. We prepare a production that will allow providing some 40 nuclear plants with fuel. The issue is the entering the world market with services for production of fuel," Shkolnik said.
According to Shkolnik, the volume of investments in this production will amount to $200 million. Cameco and Kazatomprom invest in a 50-50 volume.
According to the Kazakh National bank, the volume of direct investments from Canada into Kazakhstan's economy since 1993 has exceeded $6 billion.
In 2012, Canada entered the list of leading foreign investors in Kazakhstan's economy by investing some $743 million during the reported period. The major inflow of Canadian investments is directed to Kazakhstan's oil and gas sector and uranium industries.