Askar Zhumagaliyev, the Chief Executive of the National Atomic Company and the President and CEO of ConverDyn, Malcolm Critchley signed a Cooperation Agreement.
The agreement provides a framework for the world’s largest uranium producer and the leading provider of UF6 conversion services to jointly offer uranium in the form of natural uranium hexafluoride ("UF6") to global utilities. UF6 is the natural uranium feedstock for the enrichment step in the nuclear fuel cycle.
The combined strengths of these two industry leaders will provide a competitive and reliable integrated source of UF6 to the nuclear industry at a time when global requirements are forecasted to steadily increase with the growth of nuclear energy.
As the Chief Executive of JSC NAC Kazatomprom, Askar Zhumagaliyev stated: “The agreement we signed today between Kazatomprom and ConverDyn will take the scope of our cooperation to a new level. For Kazatomprom this provides the opportunity to access new markets with a further integrated product offering. The ability to match our uranium capabilities with a respected supplier like ConverDyn will pay dividends for both companies”.
In turn, Malcolm Critchley, the President of ConverDyn stated: “the capabilities and objectives of Kazatomprom and ConverDyn are both perfectly aligned and complementary. As the largest uranium producer in the world and a significant supplier of uranium ore concentrates to the Metropolis conversion facility, KazAtomProm is a natural strategic fit for ConverDyn. By combining our products and expertise we will add value and increased supply options to our customers”.
Both parties announced that the joint UF6 offers of Kazatomprom and ConverDyn will be made available to the market immediately.
Note:
JSC NAC Kazatomprom is the national nuclear energy company of Kazakhstan for uranium exports and its components, rare metals, nuclear fuels for nuclear power plants, special equipment, technologies and dual purposes materials. The main activity for the company is geologic exploration, and uranium production with a growing capacity in nuclear fuel cycle services and products. Today the company employs over 27 000 people. Kazatomprom is one of the leading uranium producing companies in the world.
ConverDyn, a partnership between General Atomics and Honeywell, supplies over 60% of global nuclear power plants from the world’s largest UF6 conversion facility in Metropolis, Illinois, USA