The framework agreement defines the terms of Kazatomprom’s investment and mechanisms for the supply of uranium products from Kazatomprom to the Fund, as a key supplier. The document also provides a number of mechanisms regarding the lock-up period and price threshold after which the Fund could be able to sell certain amounts of uranium to the market, with Kazatomprom having a priority right to repurchase any uranium the Fund decided to sell. The primary purpose of the conditions is to maintain the future balance of supply and demand in the market.
“The creation of this uranium fund has been maturing for several years,” Mazhit Sharipov, Kazatomprom’s CEO noted, “the project is being implemented within the framework of Samruk-Kazyna’s 2022-2031 Development Strategy, and Kazatomprom’s value strategy, which is focused on creating long-term market value for all stakeholders. I would like to express my gratitude to everyone who worked on the project, and I am sure that it will open up new prospects for the development of the uranium industry in Kazakhstan and beyond.”
ANU Energy is a uranium fund that will provide direct access to commodity and sovereign wealth funds, state-owned enterprises, and various categories of investors from emerging markets, especially those focused on environmental, social responsibility and corporate governance issues (ESG), and clean energy investment.
As previously reported, the purpose of the Fund is to store physical uranium as a long-term investment, the initial acquisition of which will be carried out using the total US$50 million joint investment of the Fund’s founders. The Fund’s founders are Kazatomprom (48.5%), National Investment Corporation of the National Bank of Kazakhstan JSC (48.5%) and Genchi Global Limited (3%).
For further information, please contact:
Kazatomprom Investor Relations Inquiries
Cory Kos, Director of Investor Relations
Tel: +7 (8) 7172 45 81 80
Kazatomprom Public Relations and Media Inquiries
Torgyn Mukayeva, Chief Expert of GR & PR Department
Tel: +7 (8) 7172 45 80 63
Kazatomprom is the world’s largest producer of uranium, with the Company’s attributable production representing approximately 23% of global primary uranium production in 2020. Kazatomprom 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 environmental standards (ISO 45001 and ISO 14001 certified).
Kazatomprom securities are listed on the London Stock Exchange and Astana International Exchange. As the national atomic company in the Republic of Kazakhstan, its primary customers are operators of nuclear generation facilities and the principal export markets for the Company’s products are China, South and Eastern Asia, Europe and North America. Kazatomprom sells uranium and uranium products under short- and long-term contracts directly from its headquarters in Nur-Sultan, Kazakhstan, and through its Switzerland-based trading subsidiary, Trade House KazakAtom AG (THK).
For more information, please visit the Company’s website at http://www.kazatomprom.kz
About the National Investment Corporation of the National Bank of Kazakhstan
National Investment Corporation of the National Bank of Kazakhstan (NIC), an investment arm of Kazakhstan’s National Bank, is a global institutional investor. NIC has been managing a part of Kazakhstan’s sovereign wealth since 2012. NIC invests for the long-term with an aim to diversify international reserves and maximize returns of the funds entrusted to it without taking undue risk. Its primary focus is making investments in alternative asset classes, namely international private equity, real estate, infrastructure and hedge funds, as well as strategic investments on behalf of the National Bank of Kazakhstan.
For more information, please visit NIC’s website at https://www.nicnbk.kz
About Genchi Global Limited
Genchi Global Limited is a United Arab Emirates-based investment company that invests and builds value across the world by taking operational control in companies occupied with Engineering and Design Services, Commodities Trading, Organic Farming, and Real estate development, with its presence in UAE, India and Singapore.
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