Kazatomprom and Toshiba to jointly produce rare metals

Kazatomprom and Toshiba to jointly produce rare metals

Kazakhstan, Astana, Sept. 29 /Trend, A.Maratov/

Kazatomprom JSC and Japan's Toshiba Corporation have established a joint venture to conduct researches and develop, produce, and sell rare-metal and rare-earth products and materials, the press service of Kazakh national company said Thursday.

The share of Kazatomprom JSC in the new joint venture is 51 percent, Toshiba Corporation - 49 percent. The authorized capital totals 750 million tenge. The head office of JV will be located in Astana. The joint venture is expected to start its current operations in November 2011.

Kazatomprom JSC is Kazakhstan's national operator for exports of uranium and its compounds, rare metals, nuclear fuel for atomic power stations, special equipment, technologies and dual-use materials.
Today, the Company employs more than 23,000 people. Kazatomprom is among the world's leading uranium producers.

USD rate is 147.66 tenge on Sept. 29

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