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December 30, 2009

Kazatomprom Declares 13900 tons of Uranium Production in 2009

Kazakhstan mined 13,500 metric tons of uranium as of Dec. 21 and will mine at least another 400 tons before the end of the year, Almaty-based, Kazatomprom said in a statement e-mailed today.

The press release also discussed Australia and Canada production from second hand source quotation. Actual quarterly and annual reports should be available within two weeks for Cameco in Canada and the Australian companies.

Kazakhstan's Kazatomprom is still saying they will boost uranium production 29 percent next year to 18,000 tons.



As far as the nuclear industry develops and supply from secondary sources diminishes, we are expecting a shortage of natural uranium in the world since 2016. To cover such anticipated deficit, Kazakhstan is planning to increase its uranium production to 18,000 tons by 2010. At that, Kazakhstan will be a top uranium producer in the world in the period of peak demand for uranium».

Mr. Nurlan Ryspanov emphasized that a strategic target of NAC Kazatomprom is to establish a vertically integrated company involved in all stages of the nuclear fuel cycle to turn out export-oriented high-value added products, whereby making maximum profit per kilogram of uranium produced in Kazakhstan at all stages of the nuclear fuel cycle. At present, NAC Kazatomprom is implementing this strategy based on agreements reached with key players in the nuclear market.

In 2010, NAC Kazatomprom will start implementing new hi-tech projects, in particular, science-intensive and technology-intensive operations based on rare and rare-earth metals and elaboration of alternative energy installations in the Republic of Kazakhstan.

Social projects to develop uranium mining regions and adjacent areas will continue. In 2010, NAC Kazatomprom plants to invest over KZT 3 billion in such programs.


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