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(Kitco News) - Kazakhstan's Kazatomprom (LSE: KAP), the world's largest uranium producer, announced today that its subsidiary Ulba Metallurgical Plant has received a license for exploration of solid minerals at the Verkhny Irgiz deposit in the Aktobe region.
The company said it plans to conduct exploration of the deposit to assess and confirm the reserves and resources of rare metals (tantalum, niobium, beryllium).
KAP added the project will allow the atomic holding to provide the existing production with its own mineral resource base, reduce the cost of final finished products, increase economic efficiency and create new jobs.
The company noted it has “extensive” experience and a level of competence, and also possesses modern technologies for obtaining high–purity rare and rare-earth metals.
Ulba Metallurgical Plant is one of the world's recognized producers of uranium, beryllium, tantalum and niobium products for the needs of nuclear power, electronics, metallurgical industry and other fields of activity.
Kazatomprom is the largest uranium producer in the world with natural uranium production in proportion to the company's participatory interest in the amount of about 22% of the total global primary uranium production in 2022. The group has the largest uranium reserve base in the industry.
Kazatomprom, together with subsidiaries, affiliates and joint organizations, is developing 26 deposits combined into 14 uranium mining enterprises.
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