NAC Kazatomprom increases uranium production by 42 percent
Azerbaijan, Baku, August 9 / Trend S. Suleymanov /
NAC Kazatomprom JSC has summarized the results of its production activity for the first six months of 2010.
Production plans of the Holding companies for the first half of 2010 have been realized in full.
Uranium production volume in the Republic of Kazakhstan for the first six months of 2010 made up 8,452 tU that is 42 percent more than in the corresponding period of 2009. According to the plans corrected uranium production in the second half of 2010 is expected to be 9,770 tons. MAEC-Kazatomprom LLP, the enterprise of the Holding producing energy and water for Aktau city and Mangistau oblast, produced 2,143 mln. kW*/hour of energy, 1,538 ths. Gcal of heat energy and 538 mln. m3 of water.
Total Kazatomprom's revenues for the first half of 2010 made up 105 bln. and 687 mln. tenge, which is 58 percent more in comparison with the same period of 2009. Such growth in income (almost twofold) resulted from the increase of uranium products sales volume.
Net profit increased by 64 percent and made up 19 bln. and 414 mln. tenge.
The strategic objective for the Holding is still the realization of projects relating to the Nuclear Fuel Cycle establishment. In the first half of 2010 Rosatom SC and Kazatomprom JSC reached agreements on the alternative development of Uranium Enrichment Center (UEC) which supposes Kazatomprom's participation in the capital of Ural Electro Chemical Plant (UEСP, Novouralsk).
Nuclear Fuel Industries Ltd. (NFI) has certified uranium dioxide powders produced by Ulba Metallurgical Plant (UMP) for Japanese nuclear plants. The certification will make it possible for UMP to proceed to uranium dioxide powder supplies to Japanese market.
The joint venture "Summit Atom Rare Earth Company" (SARECO) was founded in March 2010 becoming the practical realization of the project on the Development of RM and REM production in the Republic of Kazakhstan.
Kazatomprom and Toshiba Corp. signed the agreement on establishing a joint venture for research, exploration, production and sales of rare and rare earth metals products and materials. New JV with Toshiba Corp. is expected to be established in the second half of 2010.
Kazatomprom participates in the large-scale program for the development of alternative energy in Kazakhstan. In June 2010 the autonomous power complexes, based on wind and solar energy were put into operation in the Capital's Greenbelt (Akmolinsk oblast). Full-scale production of wind-electric sets is planed to be established at Mashzavod JSC (Ust-Kamenogorsk) which is a part of Kazatomprom.
The first half of 2010 saw the inaugural issue of Kazatomprom's Eurobonds to the amount of $ 500 million, for the term of 5 years, with the coupon rate of 6.25 percent which is the best indicator in the history of Eurobond placement by the issuers of the emerging markets.
Funds raised from Eurobonds placement are planned to be used for future investments, particularly in the field of uranium conversion and enrichment.
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 purpose equipment, technologies and double-use materials. The main activities of the company are: geological exploration, uranium production, manufacture of nuclear fuel cycle products, reactor construction, nuclear power plants, production of construction materials, the electric energy sector, scientific support of production and social welfare and training of personnel. Today Kazatomprom has more than 26,000 employees and is amongst the leading uranium production companies in the world.