TIDM94DU TIDM94DV
RNS Number : 4382A
JSC National Atomic Co. Kazatomprom
01 February 2011
PRESS-RELEASE
about the results of the activity of JSC NAC Kazatomprom for the
year 2010
JSC NAC Kazatomprom has summarized the preliminary results of
production activities for the year 2010, according thereof all
productions plans and forecast targets have been implemented as
scheduled for 2010 by the Holding Enterprises.
The uranium production output for 2010 was totaled to 17,803
tons that exceeded the targeted volume by almost 30% comparing to
2009. Thus for the period 2009-2010 the volume of uranium
production in the Republic of Kazakhstan was increased by 2 times.
The uranium sales volume of JSC NAC Kazatomprom, excluding
subsidiaries and joint ventures, was amounted to 9,000 t U in 2010,
the revenue of uranium product in 2010 was increased by 30% in
comparison with 2009. By the end of 2010 the portfolio of orders of
JSC NAC Kazatomprom was amounted to about $ 17 billion.
The net income of JSC NAC Kazatomprom in 2010 is expected to be
about 53 billion Tenge, exceeding the figures of 2009 by 24%. Such
increase in income is explained by growth in sales volume of
uranium production.
In May 2010 JSC NAC Kazatomprom made the debut issue of
eurobonds amounting to $ 500 million, for 5 years with a coupon
rate of 6.25%. The bonds were issued in accordance with RegS/144A
and Kazakhstan legislation. The eurobonds were offered on the
regulated securities market of the Republic of Kazakhstan along
with the bonds placement in the territory of foreign countries. The
funds raised from the placement of eurobonds are to be used for
general corporate purposes. The issue was led by JPMorgan, BNP
Paribas and JSC Halyk Finance.
In 2010 JSC NAC Kazatomprom implemented a number of large-scale
industrial projects:
- Inkai JV LLP
-- The facilities of industrial complex of geo-technological
field were put into operation in Suzak District of South Kazakhstan
Oblast.
-- The Satellite 1 Plant at Site 2 of Inkai Deposit was put into
operation.
- Karatau JV LLP
-- Expansion of Pilot Commercial Uranium ISL Mining Project at
Budenovskoye Deposit, Site 2
- Katco JV LLP
-- Increase in production capacity at Moyinkum Deposit,
Tortkudik Site 2.
- Baiken-U JV LLP
-- Housing estate of field camp designed for 245 people located
in Baikenzhe Rural District, Zhanakorgan Region of Kyzylorda Oblast
was commissioned.
Strategic goals of JSC NAC Kazatomprom are focused on achieving
a leading position in the world uranium market, the maximum
diversification of the Company's activity through participation in
the foreign assets of the Nuclear Fuel Cycle (in the stages of
uranium conversion and enrichment, nuclear fuel production, nuclear
power plants construction), as well as the development and use of
scientific and technical potential of the Company to diversify into
related high-tech areas.
The main strategic objective of the Company is to maximize
profits gained from each kg U produced in the Republic of
Kazakhstan at all of the subsequent stages of the Nuclear Fuel
Cycle through the efficient and optimum utilization of the mineral
resources base of uranium in the Republic of Kazakhstan, depending
on market conditions.
Thus, in the area of uranium conversion JSC NAC Kazatomprom and
Cameco Corporation are working together on implementing the joint
project for conversion facilities construction. In 2010 Memorandum
of Understanding concerning the development of refinery production
at JSC UMP (a subsidiary of JSC NAC Kazatomprom) and expansion of
conversion capacity at the facility of Springfields (UK).
In 2010 Rosatom State Company and JSC NAC Kazatomprom reached
the agreements in the area of uranium enrichment on further
development of the project CJSC Center for Uranium Enrichment
according to the alternative option, which assumes participation of
Kazakhstan side in the share capital of Ural Electrochemical Plant
(UECP, Novouralsk city). The deal of acquisition of UECP's shares
is scheduled for 2011.
On October 27, 2010, during the official visit of N.A
Nazarbayev, the President of the Republic of Kazakhstan, to France
the Agreement was signed between JSC NAC Kazatomprom and AREVA in
the segment of nuclear fuel production on implementation of joint
activities in production of fuel assemblies at JSC UMP. The
company, which is 51 % owned by Kazatomprom and 49 % by AREVA, will
construct a new line for fuel assemblies production on the basis of
AREVA project for the plant located in Ust-Kamenogorsk. The new
plant with capacity of 400 tons per year is supposed to be put into
operation in 2014.
In 2010, JSC UMP completed the certification process of fuel
pellets made of uranium dioxide as per AREVA'sspecifications. JSC
NAC Kazatomprom was awarded the right to produce fuel for reactors
of AREVA design, used in many countries around the world.
In 2010 JSC UMP and Nuclear Fuel Industries Ltd. (NFI), Japan,
implemented a certification of uranium dioxide powder, produced by
JSC UMP for Japanese nuclear power plants, which allowed JSC UMP to
supply the nuclear fuel components to Japanese market.
In addition in 2010 JSC UMP successfully completed the
certification of production of uranium fuel pellets at China
Jianzhong Nuclear Fuel (CJNF), an entity of China National Nuclear
Company (CNNC). Thus, a large scale project was launched for supply
of uranium fuel pellets to China which will be used in fuel
production for largest nuclear power plant owner in China - China
Guangdong Nuclear Power Corporation (CGNPC).
JSC NAC Kazatomprom continues active development of new
directions in its activities:
In the area of establishment in the Republic of Kazakhstan of
new high technology and science intensive production facilities
designed for manufacturing of maximum readiness products on the
basis of rare and rare earth metals:
-- SARECO JV LLP was established by JSC NAC Kazatomprom and
Sumitomo Corporation, Japan
-- The establishment of the Joint Venture by JSC NAC Kazatomprom
and Toshiba Corporation, Japan is on the final stage.
In 2010 JSC NAC Kazatomprom implemented the following projects
in the area of renewable energy development in the Republic of
Kazakhstan:
-- In June 2010 self-contained energy complexes on the basis of
wind and solar energy were put into operation in Astana City;
-- Serial production of wind driven power plants (windmills) was
started on the basis of Mashzavod LLP (Ust-Kamenogorsk city), an
entity of Kazatomprom;
-- Legmash LLP for production of heat pump installations (HPI)
was established, and HPI production was commenced at Mashzavod
LLP;
-- On October 27, 2010 in the course of the official visit of
N.A Nazarbayev, the President of the Republic of Kazakhstan, to
France the Memorandum on Joint Research in the Field of Solar
Energy (Photovoltaics) was signed between JSC NAC Kazatomprom and
the Commissariat on Atomic Energy and Alternative Energy of the
French Republic (CEIS).
Over the past year the enterprises of JSC NAC Kazatomprom
disbursed significant volume of money. In general the investment
amount for all enterprises is preliminary estimated to 103 billion
Tenge, and in subsidiaries - 36 billion Tenge (growth by 28% in
comparison with 2009).
In 2011-2015 JSC NAC Kazatomprom plans to implement several
investment projects worth over 341 billion Tenge. JSC NAC
KAZATOMPROM is a national operator of the Republic of Kazakhstan
for import and export of uranium and its compounds, rare metals,
nuclear fuel for nuclear power plants, special equipment,
technologies and dual-use materials. The Company's main activities
include geological exploration, uranium production, output of
nuclear fuel cycle products, construction of reactors and nuclear
power plants, non-ferrous metallurgy and production of construction
materials, power industry, science, social welfare and personnel
training. At present, over 26,000 people are employed by the
Company. Kazatomprom is one of the top uranium world producers.
www.kazatomprom.kz
Contact details for investors (Eurobonds):
Meirzhan Yussupov
Head of Treasury
Oel:. +7 /727/ 258 39 05 Oel../Fax: +7 /727/ 250 35 41
e-mail: myussupov@kazatomprom.kz
Meruyert Bekturganova
Treasury
Oel:. +7 /727/ 258 39 05 Oel../Fax: +7 /727/ 250 35 41
e-mail: mbekturganova@kazatomprom.kz
This information is provided by RNS
The company news service from the London Stock Exchange
END
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