NAC Kazatomprom calls the world producers and consumers of uranium to increase prices

13.06.03 00:00
/Kazakhstan today, June 13, 03/ - The unexampled low level of prices for uranium raw stuff for atomic power stations may become the reason of instability of the branch in the future. This opinion was expressed by the president of NAC Kazatomprom CJSC Mukhtar Jakishev during his speech at the held in Boston (USA) 30ieth annual international conference of atomic power engineering, which was held by the association "The world nuclear fuel market" (WNFM), press-service of Kazatomprom CJSC informs. The existing uranium reserves, which were accumulated during the time of " the cold war" and directed after its ending to the civil market, have provoked the sharp decrease of uranium raw stuff, Jakishev noted. However as warehouse reserves will be being spent, in the foreseeable future, roughly by 2010, there will be shortage of uranium, and the prices in the market will depend more and more on cost of its production. Meanwhile already today the uranium industry requires additional investments for search of new deposits, building of new mines, updating of the material base. However it's very difficult for uranium extracting companies to attract investments for they are not sufficiently profitable and unstable in connection with sharp fluctuations of prices at the market. For Kazatomprom the future deficit of uranium and increase of its price, as for uranium extracting company, is rather attracting. However the company is interested, first of all, in development of stable and predictable market because it's profitable for the whole branch and for the company as well. As Jakishev thinks, increasing of prices at the world market of uranium may be the solution of this task, at that, buyers should understand that increasing of prices is necessary in their interests, because it guarantees stability in raw stuff supplying for their productions. [2003-06-13]