Romania Wants To Exploit, Buy Uranium From Kazakhstan

„Both proposals met with positive reactions. Talks will continue,” Serban told Mediafax.

Serban added the uranium to be bought from Kazakhstan will be enriched in Romania and used for electricity production in the nuclear reactors 3 and 4 of the country’s sole nuclear plant in Cernavoda. The two reactors are scheduled to become operational by 2015-2016, after investments estimated at EUR4 billion.

Serban was part of a Romanian delegation that visited Kazahstan last week.

The National Uranium Company manages the mineral uranium resources in Romania and develops operations of geological research and exploitation of uranium deposits, preparation of ores and refining of concentrates, as well as their transport and trading.

Kazakhstan holds almost 20% of the uranium reserves worldwide and aims to become the largest international producer by 2010.

Kazakhstan’s national nuclear company, Kazatomprom, extracted around 8,500 tons of uranium in 2008 and estimates a production of 11,900 tons in 2009.

The nuclear power plant in Cernavoda currently has two reactors of 700 megawatts each, which provide around 18% of Romania’s power needs.

The authorities also plan to build a second nuclear plant in Romania.