Kazakhstan Chamber of Commerce in the USA

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Ukraine and Kazakhstan to set up JV for uranium mining

Posted on September 26, 2016 by KazCham

Centil Law Firm BI@centil.law

Ukraine’s Ministry of Energy and Coal Industry, the Kazakh Energy Ministry and Kazakhstan’s National Nuclear Company Kazatomprom have agreed to establish a joint venture (JV) for uranium mining in both countries, according to Ukrainian Energy Minister Ihor Nasalyk, who commented on the results of his mid-August visit to Kazakhstan.

The Ukrainian minister said that Kazakhstan is ready to buy about 750 tonnes of ion-exchange resin from the Nuclear Fuel state enterprise, stating that “Kazakhstan has the best desalination technology in uranium mining. We’ve agreed that they will create a joint venture and begin to work on our deposits.”

He also said that the cost of uranium ore in Kazakhstan is $30 per tonne, while Ukraine buys 1,500 tonnes per year at $120 per tonne. According to Nasalyk, Kazakhstan also invited Ukraine to participate in the construction of a plant for the production of fuel assemblies for nuclear power plants, which would become an alternative to Russia’s TVEL.

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