Caspian Energy Journal Caspian European Club
Thursday, 22 October 2015 10:00

Kazakh, USA join forces in nuclear fuel supply

KazAtomProm and Centrus Energy signed Wednesday a memorandum of cooperation that “specifies the development of mutually beneficial relations on competitive supplies of Kazakhstan's uranium to the world market,” Caspian Energy News ( reports with reference to the World Nuclear News.

The document was signed by KazAtomProm chairman Askar Zhumagaliyev and Centrus Energy senior vice-president Kevin Alldred during Zhumagaliyev's official visit to the USA.

KazAtomProm is the world's biggest uranium producer, while Bethesda, Maryland-based Centrus Energy supplies enriched uranium fuel for commercial nuclear power plants in the USA and around the world.

KazAtomProm said last week that it plans to follow the example of other major uranium mining companies and create a trading subsidiary as part of its “transformation” strategy.

Zhumagaliyev said the company plans “to become the leading supplier of natural uranium on the world market, to diversify production at the front end of the nuclear fuel cycle, in particular, to start production of fuel assemblies.”

A former deputy minister for investment and development, Zhumagaliyev was appointed the new head of KazAtomProm in May.

Kazakhstan became the leading supplier of uranium to US nuclear power plants in 2014, overtaking Australia, according to the US Energy Information Administration (EIA). According to the EIA's Uranium Marketing Annual Report, published in May, of the uranium purchased by US reactor owners and operators, 23% was of Kazakh origin, while 20% came from Australia and 18% from Canada.


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