Toshiba and Kazatomprom of Kazakhstan sign JV to develop rare earth metals
05 Jun 2010
Japanese multinational conglomerate Toshiba Corporation signed a joint venture this week to develop rare metals with Kazakhstan's state-owned nuclear holding company Kazatomprom.
With an initial capital of $5 million, Kazatomprom will hold a 51-per cent stake with Toshiba taking the remaining 49 per cent.
The JV will combine Kazatomprom's expertise in areas of rare metal extraction and production with Toshiba's experience in sales, marketing, development and production, and will initially conduct global sales and marketing of niobium-based products for superconductor applications and beryllium products for experimental nuclear fusion reactors.
These products have been developed by both Toshiba and Kazatomprom and will be manufactured at Kazatomprom's Ulba factory. The JV will also market tantalum, widely used as a minor compound in alloys.
The JV will study the extraction and marketing of rhenium, used in superalloys for airplanes and gas turbines, and dysprosium and neodymium, which are used in motors for electric vehicles and hybrid electric vehicles.
It will also carry out surveys to identify further sources of rare metals in Kazakhstan, and seek to extend its business into new areas.