Kazatomprom intends by 2010 to become world leader in uranium production - head of the company

/INTERFAX-AFI, London, November 16, 05/ - Mukhtar Dzhakishev, head of the national atomic company of Kazakhstan Kazatomprom confirmed the company's plans to become world leader in uranium production by 2010. If this plan is realized, Kazakhstan company will take place of Canadian Comeco, which is the sector's world leader at present time, newspaper The Financial Times writes. As it is known, annual volume of uranium production by Kazatomprom company at present time is 4 th. tons. During five years it is planned to increase it up to 15 th. tons. Head of Kazatomprom informed, the newspaper writes, that to achieve leading position the company intends to invest $600 m. in construction of new mines and development of existing. M.Dzhakishev added, that plans on privatization of the company at present time do not exist. As Bloomberg agency informed, Kazatomprom plans to create joint ventures with Japanese companies Sumitomo Corp. and Kansai Electric Power Co. with a view to produce and process uranium ore in Kazakhstan. According to the head of Kazatomprom, establishment of ties with Japanese companies may give access to their technologies and joining the market of Japan. "Japan does not buy fuel even from America, i.e. it has its own production", - M.Dzhakishev announced. - But they will open doors for Kazakhstan". Kazatomprom also is in negotiations stage about maintenance of joint projects with Chinese China National Nuclear Corp. and plans to open joint enterprise with South Korean companies Korea Hydro & Nuclear Power Co. and Korea Resources Corp. As The Financial Times writes, main markets for Kazatomprom are China, Japan, South Korea and USA. According to M.Dzhakishev, at present time they are negotiating with government of China about conclusion of long-term agreements about supplies - up to 2030. As per prognosis of the head of Kazatomprom, serious lack of uranium expects world markets by 2014, when reserves will be exhausted and supplies of enriched uranium from USA and Russia will be completed. At present time Kazatomprom is one of the three leading uranium-producing companies of the world. [2005-11-16]