National Company Kazatomprom (Kazakhstan) signed an agreement on establishing a joint venture with Toshiba Corporation (Japan)
04.06.10 15:36
/KASE, May 4, 10/ - National Company Kazatomprom (Almaty), bonds of
which are present in Kazakhstan Stock Exchange (KASE) official list, provided to
KASE the following press release of June 3, 2010:
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Kazatomprom and Toshiba Corp. signed an agreement on establishing a joint
venture for research, exploration, production and sales of rare and rare earth
metals and materials during a ceremony in Almaty. The document was signed by
Kazatomprom CEO Mr. Vladimir Shkolnik and Mr. Yasuharu Igarashi, Corporate
Senior Vice President, President and CEO of Power systems Company in
Toshiba Corporation. Within two years the established JV is to prepare
comprehensive Feasibility Study for Rare and Rare Earth metals extraction and
advanced processing, as well as to define economic efficiency and feasibility
of new high-tech and science-intensive production facilities based on Rare
and Rare Earth metals in Kazakhstan.
Establishment of this Joint Venture was initiated by an order of President of
Kazakhstan, Mr. Nursultan Nazarbayev, after official state visit to Japan in
June 2008, when agreements were reached to create Rare and Rare Earth metals-
based high-tech productions.
Development and production of Rare and Rare Earth metals is a brand new
direction for Kazatomprom as the matter concerns formation of productions
of a quite different type - science-intensive productions which could boost
development of domestic science and staff training.
Rare and Rare Earth metals and its compounds have a unique batch of physical
and chemical properties. They are widely used in various branches of
technology: instrumentation, machinery, metallurgy, nuclear engineering, radio
electronics, optics, chemical and glass industry, production of various
phosphors, as well as in agriculture and medicine. Rare and Rare Earth metals
are more and more being used as main materials for critical parts and components
of complex devices. Without them one can hardly imagine production of modern
engines and turbines, superconducting materials, medical equipment, high power,
but compact permanent magnets, high-end computers, air and space equipment,
catalysts and rechargeable batteries, including for e-cars.
According to expert estimations Japan produces more than 50% of high-tech
products based on Rare and Rare Earth metals.
Toshiba Corp. is a world leader and innovator in pioneering high technology,
a diversified manufacturer and marketer of advanced electronic and electrical
products spanning information and communications equipment and systems;
Internet-based solutions and services; digital consumer products; electronic
devices and components; power systems, including nuclear energy; industrial and
social infrastructure systems and household appliances. Toshiba was founded in
1875, and today operates a global network of more than 740 companies, with more
than 199,000 employees worldwide. www.toshiba.co.jp/index.htm
Public Relations Department
NAC Kazatomprom
+7 /727/ 244 62 54
pr@kazatomprom.kz
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[2010-06-04]