ASTANA —Kazakhstan has launched a program designed to make it the world
leader in uranium production.
The state-owned National Atomic Co., or Kazatomprom, has started a
program to reduce the expected shortage of uranium in the world market, Central Asia Newsline reported.
Officials said Kazatomprom plans to develop seven new uranium mines by 2010.
By 2007, Kazakhstan hopes to produce more than 7,500 tons of
uranium. The country is said to have 1.5 million tons, or nearly 20 percent
of the world supply of uranium.
Officials said the European Union and the United States would hold a
stake in the project. They said Kazakhstan's leading clients for uranium
include China, Japan, Russia and South Korea.
The International Atomic Energy Agency has forecast a shortage in the
uranium market by 2010. The IAEA said the market supply would decrease and
reach a deficit of 16,000 tons by 2015.
Kazatomprom president Mukhtar Dzhakishev said a uranium shortage could
harm Kazakhstan. Dzhakishev said such a shortage could prompt an
international effort to develop alternative sources to nuclear energy.
The company has assessed that the uranium mining project would recover
its expenses by 2013. By then, uranium profits would total $830 million.
