Regulatory News:
On July 3, KATCO mining company and its shareholders, Orano and NAC Kazatomprom JSC, celebrated the inauguration of the new uranium processing plant that marks the successful implementation of the South Tortkuduk project and the full commencement of operations at the uranium mining site. The ceremony took place in the presence of representatives of the Kazakhstani authorities, the ambassador of France to Kazakhstan and local communities.
South Tortkuduk holding significant reserves of 46,000 tons is a part of the Muyunkum uranium deposit already exploited by KATCO JV in the south of Kazakhstan.
Production from the South Tortkuduk plot will gradually replace the currently exploited territories and will allow KATCO JV to extend its production for years to come. KATCO's return to the full production level of 4,000 tons per year is expected in 2026.
The South Tortkuduk site, representing an overall investment of $190 million, has been designed in accordance with leading international practices, with a focus on reducing environmental impact including a smaller carbon footprint and enhancing operational performance, to enable faster and more efficient mining operations.
The mine will be operated, as is the case with the existing mines, using ISR1 technology and will draw on the expertise of KATCO's teams who have developed and operated one of the largest ISR mines in the world.
The project was delivered on schedule, within a tight three-year timeframe and with an excellent safety record.
Xavier Saint Martin Tillet, senior executive vice president of the Orano Mining Business Unit, declared: "This project showcases the successful partnership between Orano and Kazatomprom, with its development supported by the technical and environmental initiatives outlined in the cooperation memorandum signed between our two companies in November 2022. The successful completion of the South Tortkuduk project underlines KATCO JV's positioning as one of the largest ISR uranium mining operations in the world producing 7% of the world's uranium, indispensable for powering nuclear electricity production and fighting climate change. My congratulations to KATCO teams and Orano experts who contributed to delivering this modern uranium mine on-time and in safety."
Meirzhan Yussupov, Kazatomprom's CEO, emphasised: "The launch of the processing plant at the South Tortkuduk site marks a significant milestone not only for KATCO, but also for the entire nuclear industry of Kazakhstan. This milestone bolsters Kazatomprom's position as a world leader in uranium mining and confirms our country's growing role in ensuring global energy security and the transition to a carbon-free future. I would like to especially highlight the professionalism of Kazakh specialists directly involved in the construction of this plant and congratulate our French colleagues on the successful implementation of the project. This is the result of a long-term strategic partnership between Kazatomprom and Orano, built on mutual trust, knowledge sharing, and shared commitment to safety and environmental responsibility."
About KATCO
Created in 1996, KATCO, the joint venture between Orano Mining (51%) and NAC Kazatomprom JSC (49%), successfully produces uranium by the method of in-situ recovery (ISR) at the Muyunkum deposit located in Turkestan region, approximately 300 kilometres north of Shymkent. Today, the company employs around 1,200 persons and runs one of the largest ISR operations in the world with a yearly capacity of 4,000 tons of uranium.
About Orano
As a recognized international leading operator in the field of nuclear materials, Orano delivers solutions to address present and future global energy and health challenges. Its expertise and mastery of cutting-edge technologies enable Orano to offer its customers high value-added products and services throughout the entire fuel cycle. Every day, the Orano group's 17,500 employees draw on their skills, unwavering dedication to safety and constant quest for innovation, with the commitment to develop know-how in the transformation and control of nuclear materials, for the climate and for a healthy and resource-efficient world, now and tomorrow.
Orano, giving nuclear energy its full value.
1 In Situ Recovery: the principle of in situ recovery consists in injecting a leaching solution into the deposit without extracting the host rock
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