Baiken-U

Baiken-U LLP was established in March 2006, with a 100% equity share of Kazatomprom (within the framework of the “15 000 U, MT by 2010” program, aimed at increasing uranium production volumes in Kazakhstan), and re-registered due to changes in the Founders’ list. Kazatomprom and Energy Asia Limited (a consortium of Japanese power companies) have shares in the Company.

Baiken-U is engaged in the development of the Kharassan-2 Site of the Northern Kharassan deposit (Kyzylorda region), the deepest uranium deposit mined by the in-situ leaching method (ISL).

The Kharassan-2 Site's designed capacity is estimated at 2 thousand tons of uranium per annum with the operating life of the mine expected to be at least 40 years. The start of pilot production, with U3O8 as the end product for export, is scheduled for 2010 with designed capacity to be reached by 2014. At present Baiken-U is engaged in geological exploration with a pilot production volume of 250 tons of uranium. Mine and shift camp construction is expected to be completed in the 3rd quarter of 2009.

As of today, two subsidiary enterprises have been established jointly with Kyzyzlkum LLP:

• SAP-U LLP for sulfuric acid production for the needs of parent companies. It is planned to construct a sulfuric acid plant, with a 500,000 ton per year capacity, scheduled to be put into operation in 2011.
• Zhanakorgan Transit LLP for rendering services on shipment and transportation of cargo.

Baiken-U implements its activity in full compliance with all the ecological standards and requirements of Kazakhstan legislation. Employees, of the enterprise, use the most environmentally friendly and advanced technologies to prevent pollution of the environment. To provide safety for both the population and staff a "radiation safety program" has been developed, on site, and put into force. A labor safety service has also been established.

Under subsoil use contract terms, within the period of geological exploration, the Company’s contribution to the social sphere of the region (including medical care of staff and the local population, education, sport and other activities) will total at least USD 50,000 per year. During the period of mining the amount will comprise up to 15% of annual operating expenses or a minimum of USD 100,000.

Murat Murtazayev is acting Director General of Baiken-U.

Contact information:

168, Bogenbai Batyr St., 
Almaty, the Republic of Kazakhstan

Tel.:    +7 (727) 232 43 24

Fax:    + 7 (727) 232 43 25