Beryllium Copper Alloys by IBC Advanced Alloys

 

IBC Advanced Alloys Signs Letter of Intent with Kazatomprom

Published Monday, November 23, 2009

VANCOUVER, BC -- November 23, 2009 -- IBC Advanced Alloys Corp. (TSX-V: IB) ("IBC" or the "Company") is pleased to announce that it has signed a letter of intent (the "LOI") with Kazatomprom, the national atomic company of Kazakhstan. The LOI is expected to strengthen the companies' existing relationship by addressing long-term supply agreements, co-investment opportunities as well as initiatives to support IBC's beryllium enhanced nuclear fuel project.

Under the terms of the LOI, Kazatomprom and IBC have outlined the terms of three specific initiatives. First, the companies have agreed to negotiate a binding three-year supply agreement whereby Kazatomprom's wholly owned subsidiary, Ulba Metallurgical Plant, will supply beryllium and beryllium alloys to IBC on pre-agreed terms. Second, Kazatomprom and IBC agree to explore strategic partnerships, which may include direct or indirect investment that will support the growth of the beryllium business for the benefit of both parties. Third, the companies have agreed to assess the feasibility of a Kazakhstan based high volume beryllium oxide production facility to support IBC's growing nuclear fuels initiative.

The LOI is intended to advance the memorandum of understanding (the "MOU") signed by both parties on the April 20 of this year. The MOU was recognition by Kazatomprom and IBC as to the benefits of exploring and developing a long-term strategic vision for the global beryllium business and for establishing areas of mutual cooperation.

"We are very pleased to have signed this LOI with Kazatomprom," stated Anthony Dutton, President and CEO of IBC, "as it confirms our mutual cooperation and support for the global beryllium business and demonstrates significant progress since our meeting in Almaty earlier this year. 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," continued Dutton, "and we look forward to strengthening our relationship with our Kazakh colleagues as we develop our global beryllium business together."

About IBC Advanced Alloys Corp.

IBC Advanced Alloys Corp. is an integrated manufacturer and distributor of beryllium-based alloys and related products serving a variety of industries including nuclear energy, automotive, telecommunications and a range of industrial applications. IBC has 59 employees and is headquartered in Vancouver, Canada with production facilities in Pennsylvania, Indiana and Missouri. Additionally, IBC owns prospective beryllium properties in the Western US and Brazil covering approximately 9,500 hectares. IBC is creating a dynamic global beryllium and advanced alloys company. IBC's common shares are traded on the TSX Venture Exchange under the symbol "IB".

For additional information please contact:
IBC Advanced Alloys Corp.

Ian Tootill, Director of Corporate Communications
(604) 685-6263 ext 110

Email: itootill@eragonlatrilogia.com