Kazatomprom (KAP) plans to conclude an agreement with the Chinese CNNC Overseas Limited for the sale of uranium. The decision on this was taken at the KAP shareholders’ meeting.
In addition, the shareholders approved the possibility of concluding other agreements with Chinese partners for the sale and purchase of natural uranium concentrates, the value of which does not exceed 200% of the balance sheet value of the company’s assets. Kazakh society. The company’s financials suggest it could be around $750 million.
Meanwhile, according to information from the Kazakh national company, last year this country accounted for about 42% of the world market for the purchase and sale of uranium. Of these, KAP sold about 11,400 tons of this valuable material (about 22%), half of which was purchased by Asian countries. An additional 10,000 tons of uranium were distributed to other Kazatomprom partners, who own joint ventures.
KAP’s main partners include state-owned Rosatom, which is served by 40% of KAP companies, Canada’s Cameco (15%), China’s national nuclear energy group and France’s Orano (12% each). ), as well as companies from Japan (10%).
The West, which is seeking to stop buying uranium from Russia, sees Kazakhstan as a potential long-term partner. However, China is the most interested in this country in terms of acquiring uranium. Thus, in China, the share of uranium exports from Kazakhstan is about 70%.
Photos used: IAEA Imagebank/wikimedia.org
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