Kazatomprom Signs Term Contract with China National Uranium Corporation Limited
JSC National Atomic Company “Kazatomprom” has signed a contract for the supply of Kazakhstani natural uranium concentrates with China National Uranium Corporation Limited – CNUC (subsidiary of China National Nuclear Corporation – CNNC).
This contract with a major Chinese energy company will contribute to meeting China’s growing need for clean, net zero energy, while strengthening the historic long-term relationships between the two countries in the nuclear industry.
“Kazatomprom’s market-centric strategy focuses on production, processing and sales of natural uranium to create long-term value for all its stakeholders. Long-term cooperation with one of the major Chinese energy companies, as CNUC, highlights Kazatomprom’s reputation as a reliable and preferred supplier to the global nuclear fuel market,” said Seitzhan Zhanybekov, Kazatomprom’s Managing director, Strategy and Marketing.
The contract with CNUC was signed at China International Import Expo 2023 in Shanghai within the previously approved long-term deal by the Annual General Meeting of Shareholders in May 2023. Volumes and specific contract terms cannot be disclosed due to confidentiality and commercial sensitivity.
For more information, please contact:
Kazatomprom Public Relations and Media Inquiries
Askar Atagulin, Director, Public Relations
Tel.: +7 7172 45 80 63
Email: [email protected]
Kazatomprom Investor Relations Inquiries
Botagoz Muldagaliyeva, Director, Investor Relations
Tel.: +7 7172 45 81 80 / 69
Email: [email protected]
A copy of this announcement is available at www.kazatomprom.kz.
Kazatomprom is the world’s largest producer of uranium, with the Company’s attributable production representing approximately 22% of global primary uranium production in 2022. The Group benefits from the largest reserve base in the industry and operates, through its subsidiaries, JVs and Associates, 26 deposits grouped into 14 mining assets. All of the Company’s mining operations are located in Kazakhstan and extract uranium using ISR technology with a focus on maintaining industry-leading health, safety and environment standards.
Kazatomprom securities are listed on the London Stock Exchange, Astana International Exchange, and Kazakhstan Stock Exchange. As the national atomic company in the Republic of Kazakhstan, the Group’s primary customers are operators of nuclear generation capacity, and the principal export markets for the Group’s products are China, South and Eastern Asia, Europe and North America. The Group sells uranium and uranium products under long-term contracts, short-term contracts, as well as in the spot market, directly from its headquarters in Astana, Kazakhstan, and through its Switzerland-based trading subsidiary, Trade House KazakAtom AG (THK).
For more information, please see the Company website at www.kazatomprom.kz
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