Kazatomprom, MonAtom join forces in strategic partnership

A new strategic partnership between Kazakhstan and Mongolia's national atomic companies will provide new opportunities for the uranium industries of both countries, Kazatomprom's CEO has said.

The agreement to establish a partnership with MonAtom LLC was a "significant" result of the recent visit by President Kassym-Jomart Tokayev of Kazakshtan's recent official visit to Mongolia, Kazatomprom CEO Meirzhan Yussupov said. "The opportunities for implementing joint projects will allow us to combine resources and exchange experience and technologies, which will increase the efficiency and safety of uranium exploration and production," he said. "We strive for environmentally-friendly and safe development of the industry and are confident that this partnership will help to strengthen the positions of Kazakhstan and Mongolia in the international arena.

The new cooperation creates prospects for implementing joint projects in uranium exploration and mining in Mongolia, allowing both parties to strengthen their positions in the uranium industry, Kazatomprom said. "The companies plan to expand cooperation in the future and to consider a possibility of implementing joint initiatives aimed at strengthening the positions of Kazatomprom and MonAtom in the international uranium market," it added.

The agreement between Kazatomprom and MonAtom was reached during the state visit to Mongolia by President Tokayev, which also saw the signature of a Memorandum of Cooperation in the field of nuclear energy between Kazakhstan's Ministry of Energy and Mongolia's Atomic Energy Commission.

Tokayev and Mongolia's President Ukhnaa Khurelsukh welcomed the signing of the Memorandum of Cooperation in a joint declaration on strategic partnership between Mongolia and Kazakshtan issued at the conclusion of Tokayev's visit to Ulaanbaatar on 29 October.

Mongolia has substantial known uranium resources, although no uranium has been mined there since the closure in 1995 of an open-pit mine at the Dornod deposit in the north-east of the country. The Dornod mine was operated by Russian interests, and produced 535 tU during six years of production. Ore from the mine was transported by rail to the Priargunsky facility in Krasnokamensk, Russia, for processing.

French nuclear company Orano has had a presence in Mongolia since 1997, and is working to develop the Zuuvch Ovoo project - which it says has a potential 30-year mine life - through its Badrakh Energy joint venture with MonAtom.