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copyright by NUKEM IncNEI July 12, 2011 Slide 1
New Developments in UzbekistanUranium Production
Tim McGraw, Executive Vice President, NUKEM, Inc.NEI July 12, 2011 Washington DC
www.nukem.decopyright by NUKEM Inc.NEI July 12, 2011 Slide 2
Navoi and NUKEM
• First long-term contract signed with Navoi Mining and Metallurgical Combinat (NMMC) 1992
• Longest-running relationship with any Western company
• NUKEM markets bulk of Uzbek uranium
• NUKEM support for Navoi goes well beyond uranium marketing
www.nukem.decopyright by NUKEM Inc.NEI July 12, 2011 Slide 3
Uzbekistan Uranium Mining Facilities
Uchkuduk
Navoi
Nurabad
Zafarabad
www.nukem.decopyright by NUKEM Inc.NEI July 12, 2011 Slide 4
Navoi MMC Uranium Operations
• Northern Mining Unit (Uchkuduk) Annual Production 700-750 tU
Life of mine to 2045 (known deposits)
• Southern Mining Unit (Nurabad) Annual Production 600-650 tULife of mine to 2025 (known deposits)
• Mining Unit No. 5 (Zafarabad)Annual Production 1,000-1,200 tULife of mine to 2045 (known deposits)
www.nukem.decopyright by NUKEM Inc.NEI July 12, 2011 Slide 5
Navoi Uranium Operations
• All Mining Units send uranium-bearing solutions to Hydrometallurgical Plant No. 1 (in Navoi) by rail for further processing
• Concentrates shipped by rail to:
- St. Petersburg, Russia for ocean transport to Western convertors
- Russian conversion/enrichment facilities
- Alashankou, China for delivery to Chinese conversion facilities
www.nukem.decopyright by NUKEM Inc.NEI July 12, 2011 Slide 6
Historical Uzbekistan Uranium Output
0
500
1000
1500
2000
2500
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
Uzbek U Production
MT
U
www.nukem.decopyright by NUKEM Inc.NEI July 12, 2011 Slide 7
Cementing the Relationship
• Finance capital equipment purchases
• Eliminate US and European trade barriers
• Formation and support of bilateral trade organizations:
- Co-founded American-Uzbek Chamber of Commerce (AUCC)
www.nukem.decopyright by NUKEM Inc.NEI July 12, 2011 Slide 8
Recent Developments: NAVOI MMC Level
• NUKEM Investment in new submersible pump assembly plant in Navoi Free Industrial Economic Zone
• NMMC mulling investment in new sulfuric acid plant (2012-2013)
• Potential NMMC expansion of polyethylene pipe capacity in near term
• NMMC now responsible for geologic exploration of new uranium deposits
www.nukem.decopyright by NUKEM Inc.NEI July 12, 2011 Slide 9
Recent Developments: National Level
• Kazakhstan-Russia-Belorussian Customs Union may provide challenges for traditional equipment/material supply
• Reinforced emphasis on local manufacturing
• Continued strengthening of US – Uzbekistan relations
• Increased involvement/direct investment by large US corporations (e.g. GM, Boeing, Honeywell)