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KAZAKHSTAN: Joint venture construction start-up on planned $40,000,000 uranium mine development project is tentatively scheduled to begin in early 2005, CAMECO CORP. [Canada] & NATIONAL ATOMIC CO. (KAZATOMPROM) [Kazakhstan] - Order #: 054906a.

Publication: WWP-Report on Mining, Metal Making and Conversion
Publication Date: 01-JUN-04 		Format: Online - approximately 918 words
Delivery: Immediate Online Access

Article Excerpt
PROJECT OVERVIEW:

A Canadian/Kazakhstani joint venture was recently established to develop the Inkai uranium mine in Kazakhstan. The partners in the planned undertaking and their respective shareholdings include Canada-based CAMECO CORP. (60%) and the local NATIONAL ATOMIC CO. (KAZATOMPROM - 40%).

The mine, located some 1,000 kms northwest of Almaty, contains an estimated 86.4 million tons of reserves in addition to an indicated resource of another 275.5 million tons. The capital cost to develop an in situ leaching mine has been pegged at $40,000,000. According to Jerry Grandey, CAMECO President & CEO, the operation is expected to be cost competitive with the best uranium mines in the world.

Assuming all necessary regulatory approvals are received as envisioned, construction works is tentatively scheduled to begin in early 2005 in order to enable operational start-up by 2007. In...

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