National Atomic Company “Kazatomprom” JSC participated in the Financing the Tripling of Nuclear Energy Forum hosted by Net Zero Nuclear.
The Forum, attended by global leaders of large financial institutions and governmental officials, serves as yet another indicator that the uranium market fundamentals are stronger than ever. Kazatomprom as the largest uranium producer in the world fully recognises the vital role it plays in supporting the global transition away from fossil fuels and remains committed to delivering long-term value to all stakeholders.
“Kazatomprom is prepared to meet global utilities’ needs in diversifying their supply sources as a dependable supplier of natural uranium in a new up-trending cycle of long-term contracting activity”, stated Dastan Kosherbayev, Kazatomprom’s Chief Strategy and International Development Officer – “We will continue to be a reliable supplier at a global scale, with a diversified geography of sales across the whole world. Current forecasts indicate that by the middle of the next decade the uranium market will need another Kazatomprom-sized supplier to bridge the gap between supply and demand. To achieve our common goal of net zero by 2050, it is necessary to unite the efforts of all participants. Only by coming together we can create a sustainable and secure energy future for the generations to come”.
During the event 14 major banks and financial institutions expressed support to nuclear energy in order to reach goals set out at the COP28 for tripling the world’s nuclear energy capacities by 2050. We are already witnessing that following a reinforcement from governments and policymakers, this week financial institutions pledged to support nuclear energy in recognition that the sector has a critical role to play in the transition to net zero as a baseload source of energy, available 24/7, which is both safe and environmentally friendly. Kazatomprom is fully committed to support nuclear energy, having an indispensable role in the global net zero agenda.
Net Zero Nuclear is an initiative that calls for unprecedented collaboration between governments and industry leaders to at least triple global nuclear capacity to achieve carbon neutrality by 2050. Net Zero Nuclear’s founders are Emirates Nuclear Energy Corporation (ENEC) and World Nuclear Association (WNA).
For more information, please contact:
Investor Relations Inquiries
Botagoz Muldagaliyeva, Director, Investor Relations
Tel: +7 7172 45 81 80 / 69
Email: ir@kazatomprom.kz
Public Relations and Media Inquiries
Altynay Karibzhanova, Acting Director, Public Relations
Tel: +7 7172 45 80 63
Email: pr@kazatomprom.kz
A copy of this announcement is available at www.kazatomprom.kz.
About Kazatomprom
Kazatomprom is the world’s largest producer of uranium, with the Company’s attributable production representing approximately 20% 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, 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 environment standards.
Kazatomprom securities are listed on the London Stock Exchange, Astana International Exchange, and Kazakhstan Stock Exchange. As the national atomic company in the Republic of Kazakhstan, the Group’s primary customers are operators of nuclear generation capacity, and the principal export markets for the Group’s products are China, South and Eastern Asia, Europe and North America. The Group sells uranium and uranium products under long-term contracts, short-term contracts, as well as in the spot market, directly from its headquarters in Astana, Kazakhstan, and through its Switzerland-based trading subsidiary, Trade House KazakAtom AG (THK).
For more information, please see the Company website at www.kazatomprom.kz.
Forward-looking statements
All statements other than statements of historical fact included in this communication or document are forward-looking statements. Forward-looking statements give the Company’s current expectations and projections relating to its financial condition, results of operations, plans, objectives, future performance and business. These statements may include, without limitation, any statements preceded by, followed by or including words such as “target,” “believe,” “expect,” “aim,” “intend,” “may,” “anticipate,” “estimate,” “plan,” “project,” “will,” “can have,” “likely,” “should,” “would,” “could” and other words and terms of similar meaning or the negative thereof. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the Company’s control that could cause the Company’s actual results, performance or achievements to be materially different from the expected results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding the Company’s present and future business strategies and the environment in which it will operate in the future.
THE INFORMATION WITH RESPECT TO ANY PROJECTIONS PRESENTED HEREIN IS BASED ON A NUMBER OF ASSUMPTIONS ABOUT FUTURE EVENTS AND IS SUBJECT TO SIGNIFICANT ECONOMIC AND COMPETITIVE UNCERTAINTY AND OTHER CONTINGENCIES, NONE OF WHICH CAN BE PREDICTED WITH ANY CERTAINTY AND SOME OF WHICH ARE BEYOND THE CONTROL OF THE COMPANY. THERE CAN BE NO ASSURANCES THAT THE PROJECTIONS WILL BE REALISED, AND ACTUAL RESULTS MAY BE HIGHER OR LOWER THAN THOSE INDICATED. NONE OF THE COMPANY NOR ITS SHAREHOLDERS, DIRECTORS, OFFICERS, EMPLOYEES, ADVISORS OR AFFILIATES, OR ANY REPRESENTATIVES OR AFFILIATES OF THE FOREGOING, ASSUMES RESPONSIBILITY FOR THE ACCURACY OF THE PROJECTIONS PRESENTED HEREIN.
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Source: Kazatomprom