BAKU, Azerbaijan, August 21. National Atomic
Company Kazatomprom JSC plans to conclude major deals for the
supply of natural uranium with entities from China and Russia,
according to the company's notice of the extraordinary general
meeting of shareholders.
According to the document, Kazatomprom has agreed on a draft
spot-term contract for the sale and purchase of natural uranium
concentrates with China's State Nuclear Uranium Resource
Development Company Limited (SNURDC), a subsidiary of State Power
Investment Corporation Limited (SPIC). The physical delivery of the
product will be executed to the Alashankou railway station in
China.
In addition, Kazatomprom reached an agreement on a major
contract for the supply of natural uranium with Russia’s Uranium
One Group JSC, a subsidiary within Rosatom State Corporation. The
delivery will be made to the Siberian Chemical Plant JSC in the
Russian Federation.
Details regarding pricing, volumes, and delivery schedules for
both transactions cannot be disclosed due to confidentiality
requirements requested by the buyers. The company noted that the
transaction parameters comply with current market conditions.
Approval of both contracts has been included in the agenda for
the Extraordinary General Meeting of Shareholders (EGM), with
absentee voting scheduled to conclude on October 6, 2026.
According to the company's website, Kazatomprom is the world's
largest producer of uranium, with the company’s attributable
production representing approximately 20 percent of global primary
uranium production in 2023. The Group benefits from the largest
reserve base in the industry and operates, through its
subsidiaries, JVs and Associates, 27 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 (ISO 45001 and ISO 14001 certified).
