NAC Kazatomprom CJSC gave additional information about JV Zarechnoye CJSC

/IRBIS, October 2, 03/ - NAC Kazatomprom CJSC (Almaty), whose bonds are circulating in Kazakhstan stock exchange's (KASE) official "А" listing category, has spread press-release, which contains additional information about JV Zarechnoye CJSC. As was informed before, this enterprise was founded for realization of joint Kazakhstan-Russian-Kyrgyz project on uranium extraction at the deposit of the same name. NAC Kazatomprom CJSC informs that during speeches at the press-conference, which was held on October 1 in Shymkent and dedicated to the beginning of large-scale works at the field "Zarechnoye", there was made statement about expansion of the staff of shareholders from Russian side. Before founders of the JV were NAC Kazatomprom CJSC (Kazakhstan), Atomredmedzoloto OJSC (Russia) and Kara-Baltinskiy mining combine JSC (Kyrgyzstan). After re- registration following companies joined the staff of shareholders: NAC Kazatomprom CJSC - 45%; TVEL OJSC (Russia) - 20%, Techsnabexport OJSC (Russia) - 15%; Atomredmedzoloto OJSC - 10%; Kara-Baltinskiy mining combine JSC - 10%. Besides, it's informed that on May 19 of 2003 JV Zarechnoye CJSC made Contract for the right to use bowels with Competent body of the Republic of Kazakhstan. Raw stuff base of the JV is Zarechnoye deposit, which is situated on the territory of Otrar region in South-Kazakhstan oblast, reserves of which are equal to 19 th. tons of uranium. Labor-rent of the deposit is made by the method of sulfur-acid well underground lixivating, which is at present the most profitable and ecologically clean one in comparison with other ways pf uranium extraction. Development of the deposit will start in 2004 with mine building. The project will be financed by Russian side and investment volume will be about USD14.5 m. Industrial extraction will start approximately by the end of 2005 with reaching the project capacity equaling to 500 tons of uranium a year as chemical concentrate, which is called "yellow cake". Afterwards uranium concentrate will be delivered to Karabaltinskiy mining combine for processing into protoxide-oxide. U3O8 received in Kyrgyzstan will be sent to Russia for needs of the Ministry of atomic industry. Number of personnel at the pit will be approximately 200-220 persons, mainly local inhabitants will be employed. [2003-10-02]