Kazatomprom and Toshiba Сorp. agreed to establish a joint venture for rare and rare earth metals development and production

June 3. Kazatomprom. Almaty

Kazatomprom and Toshiba Сorp. agreed to establish a joint venture for rare and rare earth metals development and productionOn June 3, 2010, Kazatomprom and Toshiba Corp. signed an agreement on establishing a joint venture for research, exploration, production and sales of rare and rare earth metals and materials during a ceremony in Almaty. The document was signed by Kazatomprom CEO Mr. Vladimir Shkolnik and Mr. Yasuharu Igarashi, Corporate Senior Vice President, President and CEO of Power systems Company in Toshiba Corporation. Within two years the established JV is to prepare comprehensive Feasibility Study for Rare and Rare Earth metals extraction and advanced processing, as well as to define economic efficiency and feasibility of new high-tech and science-intensive production facilities based on Rare and Rare Earth metals in Kazakhstan.

Establishment of this Joint Venture was initiated by an order of President of Kazakhstan, Mr. Nursultan Nazarbayev, after official state visit to Japan in June 2008, when agreements were reached to create Rare and Rare Earth metals-based high-tech productions.

Development and production of Rare and Rare Earth metals is a brand new direction for Kazatomprom as the matter concerns formation of productions of a quite different type – science-intensive productions which could boost development of domestic science and staff training.

Rare and Rare Earth metals and its compounds have a unique batch of physical and chemical properties. They are widely used in various branches of technology: instrumentation, machinery, metallurgy, nuclear engineering, radio electronics, optics, chemical and glass industry, production of various phosphors, as well as in agriculture and medicine. Rare and Rare Earth metals are more and more being used as main materials for critical parts and components of complex devices. Without them one can hardly imagine production of modern engines and turbines, superconducting materials, medical equipment, high power, but compact permanent magnets, high-end computers, air and space equipment, catalysts and rechargeable batteries, including for e-cars.

According to expert estimations Japan produces more than 50% of high-tech products based on Rare and Rare Earth metals.

Toshiba Corp. is a world leader and innovator in pioneering high technology, a diversified manufacturer and marketer of advanced electronic and electrical products spanning information and communications equipment and systems; Internet-based solutions and services; digital consumer products; electronic devices and components; power systems, including nuclear energy; industrial and social infrastructure systems and household appliances. Toshiba was founded in 1875, and today operates a global network of more than 740 companies, with more than 199,000 employees worldwide. Visit Toshiba’s web site at www.toshiba.co.jp/index.htm

Kazatomprom 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 and double-use materials. The main activities of the company are: geological exploration, uranium production, manufacture of nuclear fuel cycle products, reactor construction, nuclear power plants, production of construction materials, the electric energy sector, scientific support of production and social welfare and training of personnel. Today Kazatomprom has more than 26,000 employees and is amongst the leading uranium production companies in the world. Visit Kazatomprom’s web site at: www.kazatomprom.kz

http://www.kazatomprom.kz/en/news/2/kazatomprom
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