OREANDA-NEWS. October 05, 2011. JSC "NAC Kazatomprom" and Japanese Toshiba Corporation have set up a joint-venture for research, exploration, extraction, production and marketing of rear-metal and rear-earth items and materials, reported the press-centre of KASE.

Government registration of the Limited Liability Partnership "Joint-Venture "KT Rear Metals Company" took place.

The joint-venture's goal is to found a vertically integrated company for production of rear earth and rear metal products with high value added.

The article of incorporation and the charter of the joint-venture were signed on September 8, 2011 by Sergey Yashin, deputy CEO of JSC NAC Kazatomprom, and Kiyoshi Okamura, Corporate Vice-President, General Manager of Nuclear Energy  Systems & Services Division, Power Systems Company, Toshiba Corporation.

The share of JSC NAC Kazatomprom in the JV makes up 51%, that of Toshiba Corporation - 49%. The registered capital - KZT750 m. The JV's headquarters will be located in Astana. It is expected that the JV will take up its operations in November 2011 already.