Conversion

Conversion, or uranium fluorination, is a necessary stage in the production chain prior to uranium enrichment. During the conversion process, uranium concentrates enter into a reaction with fluorine and are transferred into gas form as uranium hexafluoride (UF6).

In June 2008 the Kazatomprom and Cameco Corporation established a new joint venture Ulba Conversion LLP.

Conversion production will be based on the Ulba Metallurgical Plant in Ust-Kamenogorsk in the Eastern Kazakhstan region.

Annual capacity at the future enterprise is planned at 12,000 tons UF6, which corresponds to approximately 17% of the world’s conversion capacities.

Kazatomprom will own a 51% share of the joint-venture, Cameco – 49%. A feasibility study for construction of the conversion plant will be financed by the partners pro rata with their participatory interest expected to be finalized in 2009. The construction itself will also be financed by the partners pro rata their participatory interest. Commission and production with an annual capacity of 750 tons UF6 is planned to start in 2014.

Cameco Corporation, which operates the conversion plant in Port-Hope (Canada) with an annual capacity of 12,400 tons UF6, will provide the technology for Ulba Conversion LLP.

Establishment of the conversion enterprise is one of the stages of formation by Kazatomprom's transnational vertically-integrated company toward a complete nuclear fuel cycle.