Kazatomprom is expecting a consolidated income in the amount of KZT26 billion in 2002
/REUTERS, Astana, Raushan Nurshaeva, Apr 23, 02/ - Kazakhstan national
atomic company Kazatomprom is expecting by results of 2002 to receive a
consolidated income in the amount of KZT26.0 billion ($170 million) in
comparison with KZT19.6 billion in 2001, the President of the company
Mukhtar Dzhakishev told journalists.
He noted that the company intends to achieve such financial results due to
expansion of production, launching of new products, reduction of costs of
production and administrative expenses.
In the year 2002 Kazatomprom intends to invest into production about $22
million. Dzhakishev said that the company has "enough" free bank credit
lines. Besides, Kazatomprom issued bonds in domestic market and is
performing promissory note program.
"We are approaching from the point of view of risk diversification," he said.
Dzhakishev also said that extraction of 2,500 tons of natural uranium per
year allows the company to keep optimal level of profitability.
"Therefore, 2,500 tons is that optimal volume that we have chosen," he said.
Kazatomprom producing 30 percent of beryllium in the world intends this
year set up production of rolled beryllium bronze and furthermore produce up
to 1,000 tons of rolled metal.
Beryllium is a very strong metal and eight times lighter than aluminum, very
widely used in high-precision electronics, military industry.
Kazatomprom apart from extraction and production of uranium, nuclear fuel
for nuclear electric stations, beryllium products also produces tantalum,
niobium and their alloys.
According to Dzhakishev the company exports natural uranium, beryllium,
tantalum mainly to Europe and America, and also Japan and other world's
Kazatomprom - national operator on export and import of uranium and other
materials of dual usage - was founded in 1997. The company received
under its management fields and mines, range of joint ventures, Ulbinskii
metallurgical plant and geological survey type enterprise.