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First-time rating
Global Credit Research - 29 May 2012
Moody's Investors Service has today assigned first-time global-scale foreign and localcurrency issuer ratings of Baa3 to the City of Astana, Kazakhstan Republic's capital. The rating outlook is stable.
| Kazakhstan Sees Nuclear Fuel Bank in 2013 |
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By Jay Solomon Washington—Kazakhstan believes the international community's first nuclear fuel bank can be up and running on Kazakh soil by late next year, potentially supporting the Obama administration's broader efforts to combat the spread of nuclear weapons. Kazakhstan is the world's largest producer of uranium ore and has been in consultations with the U.S., European Union and United Nations to host a facility initially capable of storing 60 tons of low-enriched uranium for export. U.S. and European officials hope the Kazakh facility will convince developing countries to purchase their fuel for nuclear-power reactors from the global market, rather than seeking to produce it domestically. The enrichment of uranium and the reprocessing of spent plutonium fuel both are technologies that can be utilized either to power civilian reactors or to produce weapons-grade nuclear materials. Iran's commitment to enriching uranium domestically lies at the heart of Tehran's growing dispute with the West. Iran maintains that the enrichment is for peaceful purposes, but U.S. officials and their allies charge Tehran with seeking a nuclear-weapons capability. In an interview, Kazakh Foreign Minister Yerzhan Kazykhanov said his government hopes consultations with the U.N.'s nuclear watchdog, the International Atomic Energy Agency, on the future fuel bank's location can be completed by this spring. He added the government then hopes to bring the facility on line by late 2013. "We think it's an important initiative because it further strengthens nuclear nonproliferation" internationally, Mr. Kazykhanov said. "Any country that needs low-enriched uranium to fuel...their power plants can get access to this bank." The Kazakh foreign minister noted that the enrichment of uranium will take place in Russia before being shipped to Kazakhstan for storage. The facility will be under IAEA safeguards and only countries that are compliant with the agency's guidelines will be able to purchase the nuclear fuel. The IAEA and donors have already pledged $150 million for the project. An official at the Vienna-based agency said consultations with Kazakhstan were progressing but the target date for the fuel bank's inauguration wasn't yet "set in stone." |
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The 3rd Ministerial Meeting of the Istanbul Process, April 26, 2013
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| Kazakhstan, UN getting involved in Rogun Mediation |
| Kazakhstan's new foreign minister did some travelling in the region last week, visiting Tajikistan and Uzbekistan in an apparent effort to get the two sides to talk about their dispute over the massive, controversial Rogun dam project. |
| Kazakhstan Sees Nuclear Fuel Bank in 2013 |
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By Jay Solomon Washington—Kazakhstan believes the international community's first nuclear fuel bank can be up and running on Kazakh soil by late next year, potentially supporting the Obama administration's broader efforts to combat the spread of nuclear weapons. |