Opening of molybdenum concentrating mill of Stepnogorsk mining- chemical combine - NAC Kazatomprom JSC's release

/KASE, April 21, 06/ - NAC Kazatomprom JSC (Almaty), whose bonds are traded in Kazakhstan stock exchange's (KASE) official "A" listing category, has spread press-release with the following context. Quotation start Today, April 21 of 2006 there was opened a molybdenum concentrating mill, on the territory of hydrometallurgical plant of Stepnogorsk mining-chemical combine (SMCC), which is находящемся в доверительном управлении of the National atomic company (NAC) Kazatomprom. Start of the mill us made first in mining and manufacturing industry of Kazakhstan and will let the republic come to the world molybdenum market. On the first stage it's planned to process ore to molybdenum concentrate, which will be exported far abroad. Afterwards on SMCC's production areas the product will be processed to technical oxide of molybdenum and ferromolybdenum. About 130 persons will be enacted in the production. The raw stuff base for the concentrating mill is Shorskoye field, molybdenum mineral resources of which are 21 th. tons. On July 6 of 2005 jointly with Eurika mining a British company, there was founded MoliKen LLP processing ore from this field. At that, one sixth of world explored molybdenum reserves are on the territory of Kazakhstan, this is over 249 th. tons. Molybdenum products are used for getting special sorts of steel, catalysts for oil-refining industry. As the whole it's planned to invest over USD180 m. in Stepnogorsk mining- chemical combine's development, in accordance with Kazatomprom's program within 2005-2007, that will let provide production of commodity output in the combine for a total of over USD200 m. per year by year 2010. Quotation end [2006-04-21]