Kazakhstan declared its intentions to buy stocks in Russian Novouralsk uranium enrichment enterprise, Kazakh Prime Minister Karim Masimov said, ITAR-TASS reports.
The possibility was discussed with Rosatom – Russian state nuclear corporation, headed by Sergei Kiriyenko. The statement was made during the 6th Annual Baikal Economic Forum.
"At this stage I am not in a position to say which enterprise this will be, although it has already been defined. Negotiations are in the final stage", Masimov said, RIA Novosti reports.
Also, Rosatom and Kazakhstan's uranium producer Kazatomprom signed a memorandum of intent to cooperate in the production and sales of rare earth metals, the market for which is squeezed by Chinese export restrictions, Sergei Kiriyenko said on Wednesday.
"Our estimates show there are good opportunities to take rather an influential share on the rare earth metals market," Kiriyenko said.
"The international rare earth metals price has increased greatly and all forecasts say it will rise further, while demand for these metals will only grow. Russia and Kazakhstan are starting to widen their cooperation in the nuclear fuel cycle and nuclear technologies cooperating in the production and export of rare earth metals to our countries' markets and, a very important fact, to world markets."
Kazakhstan, the world's largest uranium miner, is potentially a major producer of rare earths, but has yet to define a detailed and guaranteed resource base.
Summit Atom Rare Earth Co, co-owned by Kazatomprom, recently signed a deal with Japanese trader Sumitomo Corp to treat uranium tailings in 2012. It plans to start producing 1,500 tonnes a year of rare earth oxides and will also embark on the search for more deposits in the vast Central Asian state and nearby countries.
