Projects and decisions referenced in the publication are initiatives of third parties and are unrelated to Kazatomprom’s activities. Kazatomprom is not a participant in the uranium exploration projects mentioned in the material and does not comment on commercial decisions or statements made by companies with which it has no partnership or contractual relations.
With regard to the information concerning the development of the country’s uranium mineral resource base and the scale of the alleged exploration activities, we note the following.
The exploration licenses held by Aral Resources Ltd (with which Laramide Resources Ltd has entered into an option agreement) for areas totalling 5,500 square kilometres (https://laramide.com/laramide-resources-to-pursue-large-greenfield-exploration-opportunity-in-kazakhstan-acquires-option-on-6000-km%c2%b2-land-position-in-prolific-chu-sarysu-basin/), as referred to in the publication, were issued for solid minerals and did not confer exclusive rights to potential uranium resources.
Historically, Kazatomprom has held a priority right to uranium production in the Republic of Kazakhstan. Accordingly, when third parties initiate uranium exploration activities, such subsoil users are aware of the regulatory limitations related to any potential transition to uranium mining.
Uranium exploration in Kazakhstan is a complex, multi-stage process that requires advanced technological expertise and strict compliance with legislation of the Republic of Kazakhstan. The inability of an individual private company to implement its stated plans cannot serve as grounds for generalised conclusions nor assessments regarding activities of other market participants, including Kazatomprom.
The Company continuously works to replenish its uranium resource base, demonstrating sustainable growth in uranium reserves and expanding the areas under exploration. As the national operator, Kazatomprom ensures the efficient and rational use of the country’s uranium reserves, adhering to a consistent and balanced approach in line with its “value over volume” strategy.
Over the past three years, Kazatomprom has significantly expanded its portfolio of new geological exploration projects, upon the completion of which the identification of additional uranium resources and reserves is expected in substantial quantities sufficient for decades to come. Subsoil use rights to these prospective sites belong exclusively to Kazatomprom.
The Company possesses sufficient financial resources, qualified personnel, technological expertise, and production infrastructure to conduct exploration activities. Decisions regarding the pace and scale of development are made with due consideration of the long-term interests of the industry and the rational use of the mineral resource base.
In this regard, Kazatomprom considers certain statements made in the public domain to be inaccurate and not consistent with the facts.
For more information, please contact:
Public Relations and Media Inquiries
Daniyar Oralov, Director, Public Relations
Tel: +7 7172 45 80 63
Email: pr@kazatomprom.kz
Investor Relations Inquiries
Botagoz Muldagaliyeva, Director, Investor Relations
Tel.: +7 7172 45 81 80/69
Email: ir@kazatomprom.kz
About Kazatomprom
Kazatomprom is the world’s largest producer of uranium with the Company’s attributable production representing approximately 21% of global primary uranium production in 2024. 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 and extract uranium using ISR technology with a focus on maintaining industry-leading health, safety and environment standards (ISO 45001 and ISO 14001 certified).
Kazatomprom securities are listed on the London Stock Exchange and the Astana International Exchange. Kazatomprom is the national atomic company in the Republic of Kazakhstan, the Group’s primary customers are operators of nuclear generation capacity, the principal export markets for the Group’s products are 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.