| (AIX)    KZT 18835   %   0.88 USD 37.3   %   -2.38

Kazatomprom is increasing its R&D potential in the nuclear industry

31 January
Kazatomprom is increasing its R&D potential in the nuclear industry

Memorandum of Understanding was signed between Ulba Metallurgical Plant JSC (a subsidiary of Kazatomprom) and the Institute of Nuclear Physics of the Ministry of Energy of the Republic of Kazakhstan on 31 January in Ust-Kamenogorsk. The parties announced mutually beneficial cooperation in the field of R&D of Kazakhstan’s nuclear industry.

In the frame of the Memorandum, a working group among scientists from both sides will be created to discuss initiatives and implement specific projects.

The parties discussed the possibility of introducing the R&D products of the Institute of Nuclear Physics into the production cycle of Ulba Metallurgical Plant, manufacturing large nuclear reactor components from beryllium and beryllides (titanium, chromium, tantalum, molybdenum, etc.), and plate fuel assemblies for a new research reactor.

Ulba Metallurgical Plant is one of the world's most recognized producers of uranium, beryllium, tantalum and niobium products. The company has three production facilities on one industrial site, with testing and research centers, a design and engineering institute, a number of auxiliary production facilities, as well as a subsidiary for the production of fuel assemblies, Ulba-FA LLP, and a subsidiary focused on the production of non-standard equipment for the nuclear and mining industries, MASHZAVOD LLP.

“The work of our enterprises is entirely based on the use of peaceful atoms. The IAEA Low-Enriched Uranium Bank has been launched on the territory of the plant. Our plant implemented a project to process a single batch of non-irradiated highly enriched nuclear material from the National Nuclear Center into low-enriched material. We launched a plant for the production of fuel assemblies - a breakthrough innovative project, which allowed Kazatomprom to enter the limited circle of participants in the market of fuel producers for nuclear power plants. I am confident that our fruitful cooperation and combined scientific potential will lead to specific results and contribute greatly to the domestic economy", noted Sergey Bezhetsky, CEO of Ulba Metallurgical Plant.

The Institute of Nuclear Physics is the only center for fundamental and applied research and training in the nuclear industry in Kazakhstan. It has a wide scientific and technical base consisting of developed structure of training centers, departments, laboratories, and technical services uniting more than 600 specialists, and the VVR-K research light water reactor.

“The Institute of Nuclear Physics is the leading organization of the Republic of Kazakhstan in the field of radiation and nuclear technologies, which also strives to enter the pool of leading research institutes in the world. In recent years, it has been ranked first in the number of publications in international journals among the research institutes of Kazakhstan. It operates nuclear and radiation installations and employs highly qualified personnel, thanks to which its R&D is carried out at a high quality level. The institute plans to expand its experimental base. In particular, the creation of new accelerators for the production of medical radioisotopes and scientific applications, as well as the construction of a new research reactor to preserve and enhance nuclear competencies,” said Sayabek Sakhiyev, the General Director of the Institute of Nuclear Physics.

Integrating the technological capabilities of Kazatomprom on the basis of Ulba Metallurigcal Plant and the scientific and experimental capabilities of the Institute of Nuclear Physics will open new perspective to promote scientific activities in the nuclear industry of Kazakhstan.

For more details, please contact:

Public Relations and Media Inquiries

Askar Atagulin, Director, Public Relations

Tel.: +7 7172 45 80 63

Email: pr@kazatomprom.kz  

Investor Relations Inquiries

Botagoz Muldagaliyeva, Director, Investor Relations

Tel.: +7 7172 45 81 80 / 69

Email: ir@kazatomprom.kz  

About Kazatomprom

Kazatomprom is the world's largest producer of uranium, with the Company’s attributable production representing approximately 22% of global primary uranium production in 2022. The Group benefits from the largest reserve base in the industry and operates, through its subsidiaries, JVs and Associates, 26 deposits grouped into 14 mining assets. All of the Company’s mining operations are located in Kazakhstan and extract uranium using ISR technology with a focus on maintaining industry-leading health, safety and environmental standards (ISO 45001 and ISO 14001 compliant).

Kazatomprom securities are listed on the London Stock Exchange, Astana International Exchange, and Kazakhstan Stock Exchange. As the national atomic company in the Republic of Kazakhstan, the Group's primary customers are operators of nuclear generation capacity, and the principal export markets for the Group's products are China, South and Eastern Asia, Europe and North America. The Group sells uranium and uranium products under long-term contracts, short-term contracts, as well as in the spot market, directly from its headquarters in Astana, Kazakhstan, and through its Switzerland-based trading subsidiary, Trade House KazakAtom AG (THK).

For more information, please see the Company website at www.kazatomprom.kz.

Forward-looking statements

All statements other than statements of historical fact included in this communication or document are forward-looking statements. Forward-looking statements give the Company’s current expectations and projections relating to its financial condition, results of operations, plans, objectives, future performance and business. These statements may include, without limitation, any statements preceded by, followed by or including words such as “target,” “believe,” “expect,” “aim,” “intend,” “may,” “anticipate,” “estimate,” “plan,” “project,” “will,” “can have,” “likely,” “should,” “would,” “could” and other words and terms of similar meaning or the negative thereof. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the Company’s control that could cause the Company’s actual results, performance or achievements to be materially different from the expected results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding the Company’s present and future business strategies and the environment in which it will operate in the future. THE INFORMATION WITH RESPECT TO ANY PROJECTIONS PRESENTED HEREIN IS BASED ON A NUMBER OF ASSUMPTIONS ABOUT FUTURE EVENTS AND IS SUBJECT TO SIGNIFICANT ECONOMIC AND COMPETITIVE UNCERTAINTY AND OTHER CONTINGENCIES, NONE OF WHICH CAN BE PREDICTED WITH ANY CERTAINTY AND SOME OF WHICH ARE BEYOND THE CONTROL OF THE COMPANY. THERE CAN BE NO ASSURANCES THAT THE PROJECTIONS WILL BE REALISED, AND ACTUAL RESULTS MAY BE HIGHER OR LOWER THAN THOSE INDICATED. NONE OF THE COMPANY NOR ITS SHAREHOLDERS, DIRECTORS, OFFICERS, EMPLOYEES, ADVISORS OR AFFILIATES, OR ANY REPRESENTATIVES OR AFFILIATES OF THE FOREGOING, ASSUMES RESPONSIBILITY FOR THE ACCURACY OF THE PROJECTIONS PRESENTED HEREIN. The information contained in this communication or document, including but not limited to forward-looking statements, applies only as of the date hereof and is not intended to give any assurances as to future results. The Company expressly disclaims any obligation or undertaking to disseminate any updates or revisions to such information, including any financial data or forward-looking statements, and will not publicly release any revisions it may make to the Information that may result from any change in the Company’s expectations, any change in events, conditions or circumstances on which these forward-looking statements are based, or other events or circumstances arising after the date hereof.

Leave feedback