ASTANA (TCA) — Kazakhstan and Mongolia have pointed out some areas for cooperation in geological exploration, uranium mining and processing, and expressed interest in implementation of joint projects in the nuclear sector, Kazakhstan’s national atomic company Kazatomprom said on February 21.
During a visit to Mongolia, the Chief Executive Officer of Kazatomprom Askar Zhumagaliyev met with the Chairman of the State Great Khural (Parliament) of Mongolia Mr. M. Enkhbold, the Minister of Mining Industry of Mongolia Mr. T. Dashdorj, General Secretary of the Nuclear Energy Commission of Mongolia G. Manlaijav, and the executive director of the state-owned company MON-ATOM D. Dalaijargal.
The parties discussed prospects for nuclear cooperation of the two countries.
“Today Kazakhstan ranks second in the world as to uranium reserves. 21 percent of the world’s uranium production accounts for Kazatomprom, and Kazatomprom is the leading supplier of natural uranium to the world market, covering about 20 percent of global requirements in natural uranium,” said Zhumagaliyev.
On January 10 Kazatomprom announced that due to the prolonged recovery in the uranium market, planned 2017 production from Kazakhstan will be reduced by approximately 10 percent (3 percent of total global uranium production).
The decision was based on a strategic review of the current oversupplied uranium market, the company then said, adding that even with these reductions, Kazatomprom will continue to lead global uranium production and support the growth of nuclear energy around the world.