ASTANA, Kazakhstan, December 18. Kazakhstan’s National Atomic Company Kazatomprom announces the exit of its Russian partner from some joint ventures, Trend reports.
As Kazatomprom reports, Uranium One Group JSC (joint-stock company), part of the Rosatom State Corporation, has sold its 49.9 percent share in JV Zarechnoye JSC to SNURDC Astana Mining Company Limited, the ultimate beneficiary of which is State Nuclear Uranium Resources Development Co (China). Kazatomprom's share in this joint venture remains unchanged, amounting to 49.979 percent.
“It is expected that Uranium One Group JSC will also alienate 30 percent participation interest in the charter capital of JV Khorasan-U LLP (limited liability partnership) and 30 percent participation interest in the charter capital of Kyzylkum LLP to China Uranium Development Company Limited, the ultimate beneficiary of which is China General Nuclear Power Corporation (CGN, China), subject to the completion of closing procedures of the transaction by its parties. Kazatomprom’s share in these assets remains unchanged, and the company continues to hold 50 percent in JV Khorasan-U LLP and 50 percent (indirectly) in Kyzylkum LLP”, Kazatomprom reported.
To note, 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.