Kazatomprom and Toshiba Сorp. agreed to establish a joint venture for rare and rare earth metals development and production

The document was signed by Kazatomprom CEO Mr. Vladimir Shkolnik and Mr. Yasuharu Igarashi, Corporate Senior Vice President, President and CEO of Power systems Company in Toshiba Corporation. Within two years the established JV is to prepare comprehensive Feasibility Study for Rare and Rare Earth metals extraction and advanced processing, as well as to define economic efficiency and feasibility of new high-tech and science-intensive production facilities based on Rare and Rare Earth metals in Kazakhstan.
Establishment of this Joint Venture was initiated by an order of President of Kazakhstan, Mr. Nursultan Nazarbayev, after official state visit to Japan in June 2008, when agreements were reached to create Rare and Rare Earth metals-based high-tech productions.
Development and production of Rare and Rare Earth metals is a brand new direction for Kazatomprom as the matter concerns formation of productions of a quite different type – science-intensive productions which could boost development of domestic science and staff training.
Rare and Rare Earth metals and its compounds have a unique batch of physical and chemical properties. They are widely used in various branches of technology: instrumentation, machinery, metallurgy, nuclear engineering, radio electronics, optics, chemical and glass industry, production of various phosphors, as well as in agriculture and medicine. Rare and Rare Earth metals are more and more being used as main materials for critical parts and components of complex devices. Without them one can hardly imagine production of modern engines and turbines, superconducting materials, medical equipment, high power, but compact permanent magnets, high-end computers, air and space equipment, catalysts and rechargeable batteries, including for e-cars.
According to expert estimations Japan produces more than 50% of high-tech products based on Rare and Rare Earth metals.