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Kara-Balta mining plant may start working in near future

Kara-Balta mining plant may start working in the near future. The Mining and Metallurgical Trade Union reported.

According to it, the management of the plant agreed with Canadian investors on cooperation in the development of uranium deposits Tash-Bulak and Kyzyl-Ompul. Thanks to this, it will be possible to significantly increase production volumes and reach a receipt of profit.

«The main thing is that the country to have stability and a favorable investment environment. Negotiations of trade unions with the management of the company on the prospects of the company’s development and the conclusion of a collective agreement for the next three years have already been held,» the trade union said.

Recall, in February 2016, Kara-Balta mining plant completely stopped production. The workers were placed on unpaid leave. The reason for the plant’s shutdown was the lack of raw materials.

Kara-Balta mining plant specializes in the processing of uranium concentrates. In 2007, the Russian holding Ural Platina, a member of Renova Group of billionaire Viktor Vekselberg, bought a state stake of 72.28 percent of the plant’s shares for about $ 1.8 million. Since November 2015, the plant is idle due to lack of orders from Kazakhstan. The plant NatsKazProm stopped production and terminated with Kara-Balta mining plant an agreement on the processing of chemical uranium concentrates.