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Latest Headlines
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Nov 23, 2009 8:02:00 AM MST
IBC, Kazatomprom advance talks on strategic nuclear energy initiatives (IBC-Kazakhstan)
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VANCOUVER _ Kazakhstan´s national atomic energy company and IBC Advanced Alloys Corp. (TSXV:IB) have advanced their talks on a number of strategic initiatives, the publicly traded junior Canadian company announced Monday.
IBC is a Vancouver-based company focused on beryllium-based alloys, which are light-weight, tough metals that have a number of industrial applications such integrated circuits, X-ray generators and nuclear reactors.
Under the terms of a letter of intent, the IBC and Kazatomprom have agreed to negotiate a binding three-year agreement for Kazatomprom´s Ulba Metallurgical Plant to supply beryllium and beryllium alloys to IBC at fixed prices.
Kazatomprom and IBC have also agreed to assess the feasibility of a Kazakhstan-based high volume beryllium oxide production facility to support IBC´s nuclear fuels initiative.
"Kazatomprom and IBC are firmly committed to the future of the beryllium business, both in terms of the existing market as well as new growth opportunities," said Anthony Dutton, IBC´s president and CEO.
IBC shares gained 2.5 cents to 17 cents Monday on the TSX Venture Exchange.
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