RusBurMash and Kazgeology signed an Agreement on Cooperation and Joint Business

This document envisages joint participation of RusBurMash and Kazgeology in various projects with a view to developing resource base of the Russian Federation, Republic of Kazakhstan and third counties.

The Agreement provides for rendering by JSC RusBurMash of geological support for JSC Kazgeology’s projects, as well as carrying out for the Kazakhstani party of design, engineering and exploration works, including those of special complexity.

The parties also agreed on the possibility of mutual exchange of experience aimed at enhancing professional skills of specialists involved in joint projects.

According to Igor Saveliev, Director General of JSC RusBurMash, the Cooperation Agreement is the first step towards fruitful collaboration between the companies. “Our interaction will enable us to efficiently adopt advanced technology and use the world’s best practices when implementing joint subsurface projects,” noted Igor Saveliev.

The possibility of concluding the Cooperation Agreement between Kazgeology and RusBurMash was preliminarily discussed at an official meeting of the companies’ management, which was held in September of the current year.

JSC RusBurMash is an integrated exploration company, being a part of ARMZ Uranium Holding Co. (JSC Atomredmetzoloto). The company carries out geological exploration (incl. exploratory drilling) and process well building operations for the Holding’s uranium mining companies. The company’s portfolio features a number of successfully implemented projects in Russia, the CIS and abroad. In the territory of Kazakhstan, JSC RusBurMash is represented by its subsidiary with offices located in Astana and Almaty.

The Russian Federation and the Republic of Kazakhstan are consistently moving towards rapprochement and mutual integration. Kazakhstan is a strategic partner of the Russian Federation and is one of the initiators of establishing the Customs Union within the framework of the Eurasian Economic Community. Cooperation between the two countries is formalized in corresponding international treaties, intergovernmental agreements and programmes for implementation of joint projects in various sectors of economy.