PARIS--(BUSINESS WIRE)--Regulatory News:
On April 10, 2017, AREVA (Paris:AREVA) and KAZATOMPROM signed a major agreement to strengthen their long-standing cooperation in the uranium mining sector in Kazakhstan.
The official signing ceremony took place in Astana in the presence of Mr. Bozumbayev, Energy Minister of the Republic of Kazakhstan, and Mr. Varin, Chairman of the Board of Directors of AREVA. The document was signed by Askar Zhumagaliyev, Chairman of the Board of NAC KAZATOMPROM JSC and Philippe Knoche, CEO of AREVA.
This agreement, which meets interests of Kazakhstan and France, opens new opportunities for further development and enhancement of effective operations of their joint-venture KATCO (AREVA (51%) and KAZATOMPROM (49%)). It will bring additional value for both shareholders of the company.
Philippe Knoche declared: “In the frame of the longstanding nuclear cooperation between Kazakhstan and France, this agreement strengthens our twenty-year partnership with KAZATOMPROM for the mutually economic benefit of the two partners. It gives KATCO a new long term perspective with the development of the South Tortkuduk project which will extend its production for the next two decades.”
“It is symbolic that we sign the strategic agreement with our reliable partners in the year of celebrating the 20th anniversary of Kazatomprom. A positive example of mutually beneficial cooperation is the successful implementation of joint projects in the nuclear fuel cycle. In addition, the provisions of the agreement correspond to the tasks set by the Head of State, N. Nazarbayev, to preserve leadership in the uranium mining market and to create a competitive nuclear company in the world", said Askar Zhumagaliyev.
Created in 1996, the KATCO joint venture successfully produces uranium by the method of in-situ recovery at the Muyunkum deposit located in the South-Kazakhstan region. With its production activities, KATCO relies on the international experience and knowledge of AREVA and Kazatomprom, two leading uranium mining companies in the world.
New AREVA transforms nuclear materials so that they can be used to support the development of society, first and foremost in the field of energy.
The group offers products, technologies and services with high added value throughout the entire nuclear fuel cycle, with activities encompassing mining, uranium chemistry, enrichment, used fuel recycling, logistics, dismantling and engineering.
New AREVA and its 20,000 employees bring to bear their expertise and their mastery of cutting-edge technology, as well as their permanent search for innovation and their unwavering dedication to safety, to serve their customers in France and abroad.
NAC Kazatomprom JSC is the national operator of the Republic of Kazakhstan for export of uranium and its compounds, rare metals, nuclear fuel for nuclear power plants, special purpose equipment, technologies. The main activities of the company are: geological exploration, uranium production, manufacture of nuclear fuel cycle products and construction materials. Today the Company has more than 26,000 employees. Kazatomprom is among the leading uranium production companies in the world.