September 16, 2016. London
Current Market Conditions Do Not Justify Further Kazakh Production Increases
Such statement was made by Chairman of National Atomic Company Kazatomprom Askar Zhumagaliev during the World Nuclear Association Symposium held in London.
«Kazatomprom’s cost of uranium production is one of the lowest in the world, however, taking into account the realities of market, which is currently over-supplied, we do not see any need to increase our production volume», - said Askar Zhumagaliev.
The CEO of National Atomic Company also said that under the present rate of production, uranium reserves in Kazakhstan will last for more than 60-70 years. He added that these reserves represent valuable future supply to the 59 reactors presently under construction and the additional 168 new units planned, or on order.
During his speech, Askar Zhumagaliev informed Symposium participants about Kazatomprom transformation process and about joint preparation of nuclear pavilion with partners for the upcoming EXPO-2017, which will be held in Astana next year.
During the World Nuclear Symposium Chairman of Kazatomprom held a series of working meetings with CEOs of major industry companies and discussed the issues of further cooperation.
WNA Symposium – is the annual meeting of leading companies of the world nuclear industry, which is traditionally held in London. This year about 600 delegates from 35 countries of the world participated in the Symposium.
The World Nuclear Association (WNA) is the international organization that promotes nuclear power and supports the companies that comprise the global nuclear industry. Its members come from all parts of the nuclear fuel cycle, including uranium mining, uranium conversion, uranium enrichment, nuclear fuel fabrication, plant manufacture, transport, and the disposition of used nuclear fuel as well as electricity generation itself. Together, WNA members are responsible for 70% of the world's nuclear power as well as the vast majority of world uranium, conversion and enrichment production
NAC Kazatomprom JSC is a national operator of Kazakhstan for export of uranium and its compounds, rare metals, nuclear fuel for nuclear power plants, special equipment, technologies and dual-purpose materials. Key areas of activity include geological exploration and mining of uranium; manufacture of nuclear fuel cycle products; production of constructive materials; power industry; science; social support and personnel training. Kazatomprom is the active participant of the program for renewable energy development in the Republic of Kazakhstan. Today, over 27,000 people work for the company. Kazatomprom is among the world’s leading uranium mining companies.
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