Almaty. November 2. KazTAG – JSC “NAC “Kazatomprom” and Sumitomo Corporation opened a plant for the production of rare earths in Stepnogorsk, a report by the Kazakh company indicates.
“In Stepnogorsk in Akmola region a new processing complex for collective concentrates of rare earth metals (REM), built by the joint Kazakh-Japanese company “Summit Atom Rare Earth Company” (SARECO) was launched on November 2, 2012,” the report states.
About $ 30 million was investigated to the creation of the pilot production REM in Stepnogorsk. The funding was provided by the founders of SARECO in accordance to the distribution of shares in the authorized capital: JSC “NAC “Kazatomprom” 51%, and Sumitomo Corporation 49%.
The plant in Stepnogorsk is a complex for thermal and hydrometallurgical processing of various types of raw materials. It is an embodiment of the results of the joint work of Kazakh, Japanese and European scientists and engineers.
The plant is built in accordance to environmental standards. The technology and the control systems ensure respect for the environment.
SARECO plant is designed to produce 1,500 tonnes of TREO (total rare earth oxides), with an increase in production capacity of up to 3 tons of TREO/year in 2015, and 5.6 tonnes of TREO/year by 2017. A significant part of the production will be the so-called heavy rare earth group, which is the most scarce and in demand today. The main target market of SARECO is the Japanese market.
During the opening ceremony the heads of “Kazatomprom” and Sumitomo Corporation have signed an agreement, determining next steps for the implementation of the SARECO development strategy. SARECO has also signed an agreement on the sale of products with the Sumitomo Corporation, as well as Shin-Etsu Chemicals and Rhodia companies.
For Kazakhstan REM based production is a new line of industrially-innovative development that shall lead to the creation of high-tech industries in Kazakhstan and allow the country to take its place in the emerging market of REM.