Chinese equity in Kazakh uranium mines confirmed

18 November 2008

New agreements between KazAtomProm and both major Chinese nuclear companies establish cooperation in uranium mining, fabrication of nuclear fuel for power reactors, long-term trade of natural uranium, generation of nuclear electricity and construction of nuclear power facilities. In uranium mining, China Guangdong Nuclear Power Co (CGNPC) is to become a 49% joint venture partner in two mines, and China National Nuclear Corp (CNNC) a 49% joint venture partner in another, following approval from China's National Development and Reform Commission. Sino-Kazakhstan Uranium Resources Investment Co, a CGNPC subsidiary, is to invest in the Irkol uranium mine in the south Syrdara basin and the Semizbay project in the northern province (640 and 425 tU per year respectively), while CNNC will invest in the Zhalpak project (640 tU per year) which is an outlier from the main deposits in the Chu-Sarysu basin and is further from production. Eventually the uranium from Kazakhstan will be supplied to China as fabricated fuel.