Kazakhstan Chamber of Commerce in the USA

KazCham



Kazakhstan may take back some nuclear assets from JVs 0

Posted on March 29, 2016 by KazCham

Colibri Law Firm BI@colibrilaw.com

Kazakhstan may take back some assets from the joint ventures it has set up in the nuclear sector, according to Kazakh President Nursultan Nazarbayev. Nazarbayev explained that some joint venture partners of the state nuclear firm Kazatomprom “are not meeting their obligations”.

“In this regard it is necessary to either ensure that they meet their obligations or look into reclaiming those assets in the interests of our state,” Nazarbayev is quoted as saying.

Kazatomprom has joint ventures with France’s Areva, Canada’s Cameco, Japan’s Sumitomo Corp and Kansai Electric Power, several Russian firms including Rosatom, and a few Chinese companies.

Rare earth metals plant opened in Kazakhstan 0

Posted on November 10, 2012 by KazCham

D.Mukhtarov, Trend, Nov 2, 2012

Kazakh city of Stepnogorsk hosted the opening ceremony of a new production complex of collective concentrates of rare earth metals (REM), built by a joint Kazakh-Japanese company Summit Atom Rare Earth Company (SARECO), the Kazakhstan National Atomic Company Kazatomprom said.

About $30 million was invested in the creation of a pilot REM production. Funding was provided by the founders of SARECO in line with the distribution of shares in the authorized capital: JSC Kazatomprom- 51 percent and Sumitomo Corporation – 49 percent.

SARECO plant is designed to produce 1,500 tones of TREO (total of rare earth oxides), with an increase in production capacity to 3,000 tons of TREO in 2015 and to 5,000-6,000 tones of TREO a year by 2017. A significant part of the production will be the so-called heavy rare earth group, the scarcest and demanded today.

The main target market of SARECO is Japanese market.

During the grand opening of the plant heads of Kazatomprom and Sumitomo Corporation, Vladimir Shkolnik and Toru Furihata signed an agreement on the project, determining the next steps for the implementation of SARECO development strategy .



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