AREVA is to invest about $60 m. in development of its JV in Kazakhstan in 2007-2008

/INTERFAX-KAZAKHSTAN, Paris/Astana, December 8, 06/ - French AREVA is to invest in 2007-2008 in its JV with the national atomic company of Kazakhstan - КАТКО about $60 m. "The basic stage of investment has ended. Since 2004 till 2006 we have invested $200 m. Certainly, some investments will be. These are purchase of cars, boring machines; it is required to expand exploitation. In 2007 we will invest $30 m., and in 2008 approximately the same volume," said Benoit de Galbert, the director general of KATKO JV, to a group of Kazakhstan journalists in Paris. He reminded that within the frameworks of JV the Kazakhstan national company Kazatomprom afforded uranium field Moinkum (the South Moinkum and Tortkuduk areas), and AREVA provides with financing and executes exploitation. Katko JV, in which 51% and 49% belong to Areva and Kazatomprom respectively, was founded in 1996. The front office is situated in Almaty; production divisions are located on the field Moinkum in Suzak region of the South-Kazakhstan oblast. Company Kazatomprom - the national operator of Kazakhstan on export of uranium and other materials of double purpose. 100% of company's shares belong to the state in the person of ministry of energy and mineral resources. At present time the company is one of the three leading uranium-mining companies of the world. [2006-12-08]