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Kazatomprom Signs Term Contracts with China

JSC National Atomic Company “Kazatomprom” (“Kazatomprom” or “the Company”) announces that the Company, represented by its Chief Commercial Officer, Askar Batyrbayev, participated virtually in the China International Import Expo 2021, held in Shanghai, China from 05–12 November 2021. During the Expo, Kazatomprom concluded two term contracts for the supply of Kazakhstani natural uranium concentrates: one with China National Uranium Company Limited, and a second with State Nuclear Uranium Resources Development Company Limited. The quantities and specific contract terms cannot be disclosed due to confidentiality and commercial sensitivity.

The conclusion of these contracts with major Chinese energy companies will contribute to meeting China’s growing need for clean, carbon-free electricity, while strengthening the historic, long-term relationship between the two countries in the nuclear industry. Kazatomprom’s market-centric strategy optimizes production, processing and sales for long-term stakeholder value creation, and the ongoing cooperation with Chinese nuclear enterprises highlights the Company’s strong reputation as the supplier of choice to the global nuclear fuel market.

Kazatomprom Signs Term Contracts with China


About Kazatomprom

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).

Source: Kazatomprom