MINEX Forum

Tag: uranium

  • Kazakhstan plans to increase uranium production

    Kazakhstan plans to increase uranium production

    Uranium mining in Kazakhstan is carried out by NAC Kazatomprom, reports the Sputnik Kazakhstan website .

    Over the previous 7 years, the level of uranium production in the country has decreased annually by 20% due to market conditions, however, with an increase in buyers, the need for uranium mining also increases, so the level of production capacity will be increased.

    In particular, an agreement on the supply of finished products was signed with the UAE.

    The company also plans to reduce import dependence by starting the construction of a plant for the production of sulfuric acid, since sulfuric acid is an important component in uranium mining, and the quantity produced in Kazakhstan is not enough.

    In addition, it is planned to build an onshore processing complex in the Turkestan region and refining production of uranium oxide at the Ulba Metallurgical Plant.

    The cost of these projects is 130 billion tenge.

  • Kazatomprom shares fell by 6.64% on the London Stock Exchange

    Kazatomprom shares fell by 6.64% on the London Stock Exchange

    Shares of Kazatomprom fell by 6.64% at the end of trading in London, likely due to a delayed response to the ban on Russian uranium supplies to the United States. Bizmedia.kz reports this .

    In addition, according to market participants, the drop is due to the fact that Kazatomprom was included on December 15 in the Sprott Junior Uranium Miners ETF. Initially, its weight in the index was 10.8%, and in response to increased demand, the company’s shares rose in price.

    However, Sprott Junior Uranium Miners and Nasdaq soon announced that the revision of the index composition was carried out with errors. Details are not specified.

    The Kazakh company has close production ties with Russia. Especially in 2022, when Russian companies received the right to develop the largest uranium deposit in the world in the Turkestan region.

    This happened after the acquisition of shares in the Stepnogorsk Mining and Chemical Combine from Russian billionaire Vasily Anisimov and Kazakh entrepreneur Yakov Klebanov (son of billionaire Alexander Klebanov).

  • Kazatomprom entered into a contract with Emirates Nuclear Energy Corporation for the supply of natural uranium concentrate

    Kazatomprom entered into a contract with Emirates Nuclear Energy Corporation for the supply of natural uranium concentrate

    National Atomic Company Kazatomprom and the UAE energy company Emirates Nuclear Energy Corporation (ENEC) signed the first ever contract for the supply of Kazakh natural uranium concentrate for the energy needs of the UAE Barakah nuclear power plant.

    The signing took place as part of the official visit of the President of the Republic of Kazakhstan Kassym-Jomart Tokayev to the United Arab Emirates, during which the Kazatomprom delegation took part in the United Nations Climate Change Conference COP28.

    “We are proud that the first ever commercial contract between Kazatomprom and ENEC will mark the beginning of an important and promising cooperation between our companies. We are very pleased that our sales geography has expanded to the UAE and highly appreciate the recognition of Kazatomprom’s role in ensuring the UAE’s energy security and achieving zero emissions, which indicates our company’s strong reputation as a reliable supplier in the global nuclear fuel market. We hope that in the future our partnership will only strengthen thanks to the signing of new contracts aimed at ensuring uninterrupted supplies of natural uranium for the Baraka nuclear power plant,” said Meirzhan Yusupov, Chairman of the Board of NAC Kazatomprom JSC.

    “Signing a contract with Kazatomprom, the world’s largest uranium producer, is strategically important for ENEC in terms of further diversification and ensuring the security of nuclear fuel supplies. With many countries making a significant positive shift towards incorporating civil nuclear power into their energy mix, the security of fuel supply is of paramount importance. Kazatomprom is expanding our list of partners to ensure a sustainable supply of fuels to produce clean electricity to decarbonize energy-intensive and heavy industries in the UAE,” said Mohamed Al Hammadi, Managing Director and Chief Executive Officer of ENEC.

    The conclusion of this contract with a large UAE energy company will serve as a new impetus for cooperation between nuclear companies of both countries, and will also open a new country in the sales geography of Kazatomprom.

    The scope and commercial terms of the contract are confidential and commercially sensitive and are not subject to public disclosure.

  • Kazakhstan and France intend to begin development of a uranium deposit in South Tortkuduk

    Kazakhstan and France intend to begin development of a uranium deposit in South Tortkuduk

    The work will be carried out by a joint venture, which includes Kazatomprom (49%), KATCO and Orano Mining (51%).

    The Kazakh-French joint venture is going to begin uranium mining by the end of 2023, inbusiness.kz reports with reference to trend.az.

    According to the head of the company’s press service, Gwenael Thomas, the agreement on this is reflected in the amendment made to the existing subsoil use contract in August 2022. Development of this new site should guarantee KATCO production for approximately 15 years.

    The head of the company’s press service also touched upon other agreements reached between Kazakhstan and Orano.

    “In November 2022, Orano and Kazatomprom signed a memorandum of cooperation as part of the visit of the President of Kazakhstan Kassym-Jomart Tokayev to France. Through this memorandum, Orano and Kazatomprom declare their intention to maintain and strengthen cooperation in the uranium mining industry, building on their existing successful partnership,” he said.

    Thomas added that among the joint cooperation initiatives, the memorandum includes the implementation of a joint technical research and development roadmap, an exploration of ways to address the issue of carbon dioxide emissions from the operations of the enterprises, and also lays the foundation for discussions on the long-term development of the partnership between the two companies.

    KATCO was founded in 1996 to develop and operate the Muyunkum and Tortkuduk uranium deposits in the Turkestan region, approximately 300 kilometers north of Shymkent.

    Today the company employs about 1,200 people and operates an ISR (In-Situ Recovery) mine with an annual capacity of about 4 thousand tons of uranium. The exploitation of two deposits has allowed KATCO to produce more than 40 thousand tons of uranium over the past 20 years.

  • Orano names start date for uranium mining at new plot in Kazakhstan

    Orano names start date for uranium mining at new plot in Kazakhstan

    BAKU, Azerbaijan, November 12. Uranium mining at the Kazakhstan’s South Tortkuduk plot by the KATCO, the joint venture between French Orano Mining and Kazatomprom (Kazakhstan’s national nuclear company), will begin at the end of 2023, a source at Orano told Trend.

    “Kazakhstan is the world’s largest uranium producer.” Orano is present in the country through KATCO, a joint venture created in 1996 by Orano Mining (51 percent) and Kazatomprom (49 percent) to develop and utilize the uranium resources of Muyunkum and Tortkuduk in the Turkestan region, about 300 kilometers north of Shymkent,” according to the source.

    According to the corporation, it now employs over 1,200 people and operates an ISR mine with an annual capacity of approximately 4,000 tons of uranium. Over the last 20 years, KATCO has produced more than 40,000 tons of uranium from the two deposits.

    “In August 2022, KATCO and the Ministry of Energy in the Republic of Kazakhstan signed an amendment to the existing subsoil utilization contract to exploit the South Tortkuduk plot. Exploitation of this new plot should guarantee KATCO production for around fifteen years. Production from the new deposit is due to begin towards the end of 2023,” the source said.

    The source pointed out that Orano Mining and the Kazakh National Company Kazatomprom signed a memorandum of cooperation on November 29, 2022.

    “Through this memorandum, Orano Mining and Kazatomprom state their intention to maintain and strengthen their cooperation in the uranium mining industry, building on their existing successful partnership,” the company added.

    As the chief operating officer of the Orano group previously stated at a meeting with the management of Kazakhstan’s Samruk-Kazyna JSC (Sovereign Wealth Fund), French Orano S.A. intends to expand areas of cooperation with Kazakhstan, including the implementation of joint strategic projects outside the country.

    On September 29, 2023, Kazakhstan’s Kazatomprom presented its strategy for uranium production for 2025. The Board of Directors of Kazatomprom approved the company’s strategy to increase uranium production volumes in 2025 to 100 percent of the level planned under subsoil use contracts.

    Kazakhstan ranks second in the world in terms of proven reserves of natural uranium. About 14 percent of all proven world reserves are concentrated in the depths of the Republic of Kazakhstan. The country’s total proven reserves are estimated at more than 700,000 tons of uranium.

    In 2009, Kazakhstan took first place in uranium production in the world and continues to maintain a leading position in the world market. Kazakhstan produces about 40 percent of the world’s uranium production. In 2021, the volume of uranium production amounted to 21,800 tons, according to the results of 2022 – 21,300 tons.

  • Uzbekistan discloses volume of Orano’s investments in its uranium deposits operation

    Uzbekistan discloses volume of Orano’s investments in its uranium deposits operation

    TASHKENT, Uzbekistan, November 6. The French Orano company will invest up to $500 million in uranium mining and processing in Uzbekistan, Uzbek Minister of Mining and Geology Bobir Islamov told reporters on the sidelines of the 16th Verona Eurasian Economic Forum in Samarkand, Trend reports.

    The official noted that Orano is currently carrying out geological exploration, and a preliminary feasibility study of the project will be prepared by the end of this year.

    “The strategic agreement stipulates that two additional areas in the Tamdyn district of Uzbekistan’s Navoi region will be explored by the French company. Everything will be decided, of course, by a feasibility study, but now everything is going very positively,” Islamov said.

    The minister stressed that the existing volumes of uranium production have already found their targeted markets.

    “As the production of nuclear fuel increases, Uzbekistan will make a decision on exports based on the price situation in the world,” he added.

    Islamov also reported an increase in the volume of uranium exports in all directions in 2023, while emphasizing the importance of diversifying supplies.

     

    Meanwhile, a trilateral agreement has been signed between Uzbekistan’s State Committee for Geology and Mineral Resources, Uzbekistan’s Navoiuran state enterprise, and the French Orano in November 2022.

    The document provides for the intensification of joint work on the extraction and processing of uranium, as well as building an industrial chain for the production of nuclear fuel.

    Moreover, Nurlikum Mining, a joint venture for the exploration and production of uranium in the Navoi region, established by Orano and the State Committee for Geology, has been operating in Uzbekistan since December 2019.

    At the end of 2021, 3,526 tons of uranium were mined in Uzbekistan. In 2022–2030, production is planned to be doubled to 7,100 tons.

  • Kazakhstan may receive uranium enrichment technology from French Orano

    Kazakhstan may receive uranium enrichment technology from French Orano

    “Currently, in accordance with the instructions of the head of state, the possibilities of Kazatomprom’s participation in uranium conversion and enrichment technologies are being considered. The Orano company is one of the world leaders, possessing all the technologies, and the agreement, which was signed at the Kazatomprom level, also involves studying the possibility of Kazatomprom entering and obtaining these technologies,” Mr. Satkaliev said at the briefing.

    The Minister of Energy emphasized that Kazakhstan needs to expand its presence in the full cycle of uranium processing.

    “We have unique competencies in mining and primary processing; we are number one in the world in uranium supply and uranium export. We have operating research reactors. That is, the missing link in this cycle is the conversion and enrichment of uranium, and now the Kazatomprom company, in accordance with the instructions of the head of state, is studying the possibility of covering this cycle,” added the head of the Ministry of Energy.

    He did not specify where the final products will be sent, noting that “it depends on world market conditions.”

    Earlier it was reported that the management of the Samruk-Kazyna state fund discussed with the chief operating officer of the Orano group, Nicolas Maes, the expansion of cooperation on the Kazakh-French uranium enterprise Katko LLP. The French side voiced a proposal to expand areas of cooperation, including the implementation of joint strategic projects outside of Kazakhstan.

    Kazakh-French joint venture Katko LLP was founded in 1996, its participants are Kazatomprom and Orano Mining – the Kazakh division of the French Orano Mining, which, in turn, is part of Orano SA. Katko mines uranium using the in-situ leaching method in the northern part of the N1 (South) section and in the N2 (Tortkuduk) section of the Moyynkum deposit in the Turkestan region of Kazakhstan.

    In December 2022, Kazatomprom and Orano Mining signed a memorandum of cooperation in the nuclear industry, in particular, on the further development of the Katko joint venture as part of the official visit of the President of Kazakhstan Kassym-Jomart Tokayev to France.

    Kazatomprom, controlled by the state, is engaged in the mining of uranium, processing of rare metals, production and marketing of beryllium and tantalum products. Kazatomprom estimates its share in the global natural uranium mining market at 22% by the end of 2022. Kazakhstan annually supplies more than 45% of the world nuclear energy needs for uranium products.

  • France is determined to gain access to Central Asia’s uranium – Azerbaijan’s key role in transit

    France is determined to gain access to Central Asia’s uranium – Azerbaijan’s key role in transit

    It is planned that the visit of French President Emmanuel Macron to Central Asia will bring concrete results in the mutual relations of this region with Europe. Macron has already arrived in Kazakhstan today. He is expected to leave for Uzbekistan tomorrow. In both cases, the main topic of discussion will be energy, especially nuclear energy, which is directly related to uranium mining, which is one of the main industries of these two Central Asian countries.

    The Elysee Palace has identified two main goals of the French leader’s visit to these countries. These goals include increasing the diversification of strategic and economic relations and strengthening the participation of these countries by signing agreements in areas such as energy, supply of mineral resources, transport and aviation. As reported, President Macron will be accompanied by ministers of industry and foreign trade, as well as about 15 heads of large corporations on his visit to Kazakhstan.

    France is particularly interested in participating in the construction of the first nuclear power plant in Kazakhstan (the question of the construction of the plant will be put to a referendum by the end of the year).

  • Ukraine has successfully dispatched its inaugural consignment of uranium, sourced from the esteemed Eastern Mining and Processing Plant to Canada

    Ukraine has successfully dispatched its inaugural consignment of uranium, sourced from the esteemed Eastern Mining and Processing Plant to Canada

    Regrettably, it is disheartening to acknowledge that Russia still maintains considerable control over a substantial portion of the global uranium market. This vexing situation poses challenges when it comes to imposing sanctions, given the numerous contractual agreements that various companies have with Russian entities for uranium supply. Nevertheless, we remain resolute in our efforts to displace them from this market and bolster uranium production within Ukraine,” emphasized the Minister.

    In light of this collaborative endeavor, the initial batch of Ukrainian uranium, diligently extracted from the esteemed VostGOK facility, has been expertly loaded and dispatched to Canada.

    Furthermore, Ukraine has been granted a credit guarantee by the esteemed UK government, amounting to a noteworthy £192 million, as part of a fruitful partnership with Urenco. This credit guarantee has been extended to support Energoatom in availing uranium enrichment services.

    The Minister also shared the uplifting news that merely a few days ago, the maiden shipment of nuclear fuel, thoughtfully developed by the esteemed American company Westinghouse Electric Sweden AB in close collaboration with accomplished Ukrainian specialists from the esteemed National Atomic Energy Company Energoatom, was seamlessly loaded into the VVER-440 reactor at the illustrious Rivne Nuclear Power Plant.

  • Kazakhstan plans to increase uranium exports to 71% by the end of the year via the TITR

    Kazakhstan plans to increase uranium exports to 71% by the end of the year via the TITR

    During an interview at the esteemed 2023 World Nuclear Symposium, Dastan Kosherbayev, the Chief Commercial Officer of “NAC Kazatomprom,” eloquently delved into the company’s operational performance, elucidating its anticipated expectations and logistics routes. Representatives hailing from Kazatomprom also provided updated information regarding the current status of uranium deliveries via the Trans-Caspian International Transport Route (TITR).

    It was duly noted that as of the conclusion of the first half of 2023, an impressive 58% of all uranium deliveries from Kazakhstan to Western countries were successfully transported through the TITR. Furthermore, it is projected that by the culmination of 2023, the share of Kazatomprom’s uranium deliveries to Western countries via the TITR will ascend to a staggering 71%.