WESTERN CAPITAL TO TAKE OVER KAZAKHSTAN’S URANIUM INDUSTRY.
Publication: Monitor Volume: 5 Issue: 117
The government of Kazakhstan has decided to sell to Western companies a controlling stake in Kazakh Atomic Industry, the largest uranium producer and exporter in Central Asia and one of the largest in the former Soviet Union. The company consists of three uranium mines, an enrichment plant (the flagship Ulba metallurgical complex) and a prospecting enterprise. Negotiations toward a takeover are well advanced between the Astana government and two of the world’s leading uranium producers: Cogema of France and Cameco of Canada and the United States. Kazakhstan’s move is consistent with its policy of opening up its vast metallic ore deposits to Western rather than Russian firms.
In announcing this breakthrough, Kazakh Atomic Industry Chairman Muhtar Yakishev made clear that the strategic investors are expected to come up with a program to modernize Kazakh Atomic Industry and to secure and diversify its export outlets. The latter issue is especially topical in light of the anti-dumping proceedings currently underway in the United States against the company (Habar, June 10, 14-15).
The Monitor is a publication of the Jamestown Foundation. It is researched and written under the direction of senior analysts Jonas Bernstein, Vladimir Socor, Stephen Foye, and analysts Ilya Malyakin, Oleg Varfolomeyev and Ilias Bogatyrev. If you have any questions regarding the content of the Monitor, please contact the foundation. If you would like information on subscribing to the Monitor, or have any comments, suggestions or questions, please contact us by e-mail at pubs@jamestown.org, by fax at 301-562-8021, or by postal mail at The Jamestown Foundation, 4516 43rd Street NW, Washington DC 20016. Unauthorized reproduction or redistribution of the Monitor is strictly prohibited by law. Copyright (c) 1983-2002 The Jamestown Foundation Site Maintenance by Johnny Flash Productions