ASTANA, Kazakhstan, November 17. Chinese companies CNNC and CNUC are purchasing uranium concentrates from Kazatomprom worth $2.5 billion, Trend reports.
The decision of the Extraordinary General Meeting of Shareholders (EGM) has approved the signing of a spot sales contract for natural uranium concentrates between Kazatomprom and CNNC Overseas Limited (CNNC Overseas), as well as a long-term sales contract for natural uranium concentrates between Kazatomprom and China National Uranium Corporation Limited (CNUC).
The conclusion of this deal will expand the prospects for bilateral cooperation between the Republic of Kazakhstan and the People's Republic of China, ensuring stable supplies of Kazakh uranium to China for its transition to a low-carbon energy system, and strengthening Kazakhstan's role as a key player in the global nuclear energy market.
CNNC Overseas, registered in Hong Kong, and CNUC, registered in the PRC, are affiliated organizations of China National Nuclear Corporation (CNNC), a state-owned corporation of China involved in all sectors of the nuclear industry. CNNC is the primary operator of nuclear power plants in China and is engaged in the development of nuclear energy and technologies, the construction of nuclear power plants, and the production of nuclear fuel.
