Сингапур, Март 2010 г
DESCRIPTION
ПрезентацияTRANSCRIPT
ARMZ: Expanding Global Presence
Asia Mining CongressSingapore, March 2010
ARMZ in Russian Nuclear Industry
2
What is ROSATOM?
Entire Nuclear Fuel Cycle: from uranium mining to power generation and spent fuel
reprocessing
ARMZ
3
ROSATOM Global Presence
4
ROSATOM Partners
40 countries
worldwide
USA,
Canada,
Mexico
Finland, Sweden, Netherlands, Belgium, Germany,
France, Spain, Switzerland, Hungary, Slovenia,
Lithuania, Bulgaria, Czech Republic, United
Kingdom, Slovakia
Russia,
Kazakhstan,
Ukraine,
Armenia
Argentina,
Brazil,
Venezuela,
Chile
Namibia,
South Africa,
Libya,
Morocco,
Algeria, EgyptWorld share:
uranium mining – 9%, uranium enrichment services – 40%
nuclear fuel supplies – 17%, NPP construction – 16%
Japan, China,
Republic of
Korea,
Vietnam, India,
Mongolia
Australia
.
.
.
Russia’s only uranium producer
World’s 2nd by uranium resources - 546 thousand tU in 2009
World’s 5th by uranium output volume - 4624 tU in 2009
Priargunsky - world’s largest by aggregated historical uranium production
Highly diversified by mining technology and geography - exploration and mining on 3
continents
14,000 employees at production sites and in service companies
2009 Uranium Production
3,527
2009 Uranium Resources
Source: ARMZ Source: ARMZ
by Company (in situ)
by Country
Source: WNA
by Country
by Company
Thou tU
tU
Thou tUtU
ARMZ at a Glance
566,3
0
200
400
600
800
1000
1200
1400
3562
0
2000
4000
6000
8000
10000
12000
14000
546
0
500
1000
1500
2000
2500
4624
0
1000
2000
3000
4000
5000
6000
7000
8000
9000
5
• 45% growth of uranium output over three
years
• 25% growth in 2009 – second place
worldwide
• 4-fold growth of uranium resources
ARMZ Growth Rates 2006-2009
Production Growth Rate In 2009
25%
-20
-10
0
10
20
30
40
50
6
March: ARMZ acquired Effective Energy N.V.: 50% in JV Karatau and 25% in JV Akbastau
December: ARMZ completed transaction with Uranium One acquiring19,95% interest in the company
June – December: The Government of the Russian Federation provided a subsidy of RUR62.4 billion
from the federal budget to Rosatom to purchase ARMZ Uranium Holding Co. stock
November: ARMZ made a public offer to acquire 100% of Khan Resources Inc. to consolidate
interest in the Dornod uranium project (Mongolia)
August: Rosatom and the Government of Mongolia signed an agreement establishing JV «Dornod
Uranium» with ARMZ as operator for the Russian part
ARMZ: 2009 Highlights
7
ARMZ Benefits From Deal With Uranium One
8
JV ARGK
(Armenia)
Namibia JV
SWA
Uranium
Canada JV
NBUL
Acquiring interest and establishing partnership with strong public uranium producing company
Current uranium resource increase by 5%
Uranium business geographical diversification and new uranium market opportunities (USA, Australia, Canada)
Offtake option for greater of 50% of Karatau or 20% of aggregated Uranium One annual production secures additional amount of U beyond 2013
Technical, infrastructural and logistical synergies in Kazakhstan
ARMZ – 2010 Plans
Uranium production
• Construction of new mines in Russia
• Ramping up of uranium production in Kazakhstan
• Total volume of ARMZ uranium output in 2010 – over 5100 tU
Exploration and development of projects
• Feasibility study of the Elkon mine
• Bringing investors into ARMZ U projects in Russia
• Exploration for new U deposits
Uranium market and M&A
• New mid-term and long-term contacts for natural uranium supply
• Participation in new promising assets overseas
9
11
12
Planned facilities
6. Elkon
7. Gornoe
8. Olovskaya
Operational and under construction facilities
1. Priargunsky
2. Khiagda
3. Dalur
4. Akbastau
5. Zarechnoe
Exploration ventures and Prospective projects
9. Mongolia
10. Russia
11. Namibia
12. Armenia
ARMZ 2010 Global Presence
10
Uranium required in 2008:
15 thou tU
Uranium required in 2030 (F):
40 thou tU
Huge misbalance – to reach 95% in
the foreseeable future - between
demand for U by nuclear reactors
and supply of locally produced
uranium
Locally sourced 900 tU Locally sourced 2000 tU
Asia and the Pacific: U Demand & Supply
11
12
ARMZ
Unique Resource
Base
Long-Term Development
Plans
Government Support
DiversifiedProjects
Sustainable Uranium Demand
High Level of
Experience and
Expertise
To ensure ARMZ
competitiveness through
building a diversified
world-class mining company
ARMZ Advantages
Nuclear Power in Asia and the Pacific
13
0
50
100
150
200
250
2006 2007 2010 2015 2020 2025 2030
Taiwan
Vietnam
Indonesia
Pakistan
India
Korea
China
Japan
tU/y
274%
NPP Uranium Demand Until 2030
Asia and the Pacific Today:
109 NPPs (25% of world’s nuclear reactors) with the aggregate capacity of 82 GWe.
Most of operating capacities located in Japan (53) and the Republic of Korea (20)
31 NPPs under construction (16in China, 6 in India, 5 in the Republic of Korea).
IAEA,2007 (high scenario)
Asia and the Pacific in 20 Years:
274% growth in nuclear power capacities
Aggregate capacity of operating NPPs in the region to reach 219 GWe.
China and India projected to grow their nuclear power generation at greatest rates
Fast growing nuclear power in Asia and
the Pacific is an attractive market for
uranium miners and utilities
14
0
5000
10000
15000
20000
25000
30000
35000
40000
45000
2006 2007 2010 2015 2020 2025 2030
Taiwan
Vietnam
Indonesia
Pakistan
India
Korea
China
Japan
204%
tU/y
Change
In Demand Structure
Producers and
ConsumersToday:
Asia and the Pacific NPP demand for uranium at 15 thou tU/year
Japan and South Korea are the largest consumers of uranium for NPPs
Within 20 years in Asia & the Pacific:
Threefold growth of NPP uraniumneeds to 41.6 thou tU/year
Major growth rates expected inChina (16-fold) and India (10-fold)
Producing countries in Asia (Kazakhstan, Russia, and Uzbekistan) capable of meeting growing demand
Demand for Uranium in Asia and the Pacific
IAEA, 2007 (high scenario)
NPP Uranium Demand Until 2030
-10000 -5000 0 5000 10000
Japan
Korea
China
India
Taiwan
Kazakhstan
Russia
Uzbekistan
China
India
500010000
7940
16000
1200
10800
32005300
445
5200
830 1930
2006 2030
Taiwan
Vietnam
Indonesia
Pakistan
India
Korea
China
Japan
Asia’s Uranium Resource Base
15
546
349
165
358
192
501
Asia’s U Resource Base by Country,
as of 01.01.07 (IAEA, 2007)
U Resources in Asia by Major Producers,
as of 01.01.2008
Recoverable U resources in Asian
countries total 1816.2 thou tU
(33% of the world’s total)
Cumulative U resources (in situ) of the
largest uranium producers operating in Asia
total 1224 thou tU of which
33% is in Russia
53.5% is in Kazakhstan
13.5% is in Uzbekistan
Almost 50% of producer-attributable U resources in Asia fall within ≤$80/kg
category, almost 33% fall within ≤ $40/kg category amenable to progressive and
environmentally friendly
In Situ Leach (ISL) recovery method
817,3; 45%
545,6; 30%
111,8; 6%
111; 6%
72,9; 4%
67,9; 4% 62; 3% 27,7; 2%
Kazakhstan
Russia
Jordan
Uzbekistan
India
China
Mongolia
Other
0
100
200
300
400
500
600
8521; 56%3521; 23%
2338; 15%
749; 5% 200; 1% 45; 0%
Kazakhstan
Russia
Uzbekistan
China
India
Pakistan
Uranium Production in Asia
16
tU/y
Uranium production in Asia
by country, 2008
Uranium production forecast (2009 - 2030)
and share of production in Asia
Share of Asian production in the global U output averages 40-45% in
2009-2030, peaking in 2015. Kazakhstan remains the largest producer
with its share averaging from 60 to 75%
WNA,2009 (reference case scenario)
0
10000
20000
30000
40000
50000
60000
70000
2009 2010 2015 2020 2025 2030
Other
Uzbekistan
Russia
Kazakhstan
Uranium Production-Consumption Balance in Asia
17
WNA,2009 (reference case scenario)
Russia’s NPP requirements are not accounted for due to most of NPPs’ location in the European part of the
country. Russia uses secondary sources to meet uranium requirements of domestic NPPs
Asia and the Pacific NPP requirements in 2009-2022 can be fully met by uranium
produced in Asian countries (Kazakhstan, Russia, and Uzbekistan).
Another two major uranium markets (North America and Europe), as well as historical
relationships between sellers and buyers (long-term contracts, miner-utility alliances,
etc.), make sure most of uranium produced in Asia has so far been channeled to Europe
and the US.
0
5000
10000
15000
20000
25000
30000
35000
40000
45000
2009 2010 2015 2020 2025 2030
Asian Production NPP Requirements
Providing for Asia’s Future Needs For Uranium
18
Russia
Kazakhstan
Japan Korea
ChinaIndia
Tenex –
Chubu Electric JV Irukol, JV Semisbai – CGNPC
JV Jalpak - CGNPC
Large quantities of natural uranium needed to meet the requirements of Asia’s
fast growing nuclear sector make sure Russia’s share in the region’s uranium
market will be expanding
JV Appak - Sumitomo,
Kansai Electric Power
JV Baiken-U, JV
Kyzylkum - Japanese
holdings
Kazatomprom –
Korea Hydro & Nuclear Power
TENEX -
CNEIC
TVEL – Department
of Atomic Energy,
government of India
Thank you!