31 May (NucNet): Kazakhstan’s state-owned nuclear company Kazatomprom and Canada-based Cameco have agreed to restructure their Inkai mine joint venture, Cameco said in a statement.
The Joint Venture Inkai Limited Liability Partnership (JVI) owns and operates the Inkai in-situ recovery uranium mine and processing plant in central Kazakhstan.
Cameco is the majority shareholder of JVI with a 60 percent stake, while the remaining 40 percent of shares are held by Kazatomprom.
Cameco said the new agreement, still subjected to governmental approval, will replace a memorandum of understanding signed by Cameco and Kazatomprom in September 2012.
Under the new agreement, Cameco's ownership stake in JVI will be adjusted to 40 percent, while Kazatomprom's ownership share will increase to 60 percent, a statement said.
According to Cameco, JVI will also be given the right to produce 10.4 million pounds of uranium-oxide (lbs. U3O8; i.e. 4,000 tonnes of uranium (tU)), an increase from the current 5.2 million pounds.
Cameco also said the two companies will carry out a feasibility study for the eventual design, construction and operation of a uranium refinery in Kazakhstan with projected annual capacity to produce 6,000 tU as uranium trioxide (UO3).
In 2015, with more than 23,800 tU produced, Kazakhstan maintained its position as the world’s leading producer of natural uranium.
Details online: http://bit.ly/1UeV8zN
