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Kazakh, Canadian companies extend co-op for three decades

27 May 2016 14:43 (UTC+04:00)
Kazakh, Canadian companies extend co-op for three decades

Kazakhstan's Kazatomprom national atomic company will increase its share in the Inkai joint venture with Canada's Cameco Corporation, said the message from Kazatomprom.

Kazatomprom will increase its share in the joint venture from 40 percent to 60 percent.

The corresponding agreement was signed during the meeting of the Foreign Investors' Council in Astana.

The agreement also envisages extension of the mutually beneficial cooperation between the two companies till 2045, and extends the term of the contract for subsoil use.

Cameco is ready to give Kazatomprom the right to use the technology for refining and conversion, and provide its access to conversion services at its converter plant in Port Hope, Canada for 10 years on a non-repayable basis.

The final decision on constructing the refinery will be made based on the results of the feasibility study.

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