JSC National Atomic Company “Kazatomprom” (“Kazatomprom” or “the Company”) informs that Mazhit Sharipov, Kazatomprom’s Chief Executive Officer and Chair of the Management Board held a meeting in Nur-Sultan with Tim Gitzel, President and Chief Executive Officer of Cameco Corporation, a Canadian-based mining company.
The meeting focused on Cameco and Kazatomprom’s partnership in the nuclear industry, with the leaders of the two companies discussing the key issue of transporting natural uranium from JV Inkai to western markets using Kazatomprom’s Caspian Sea transportation route. In addition, they discussed the achievements of their shared asset, JV Inkai, which mines uranium in the Turkestan region of Kazakhstan, and its future development.
Other issues were also discussed during the meeting, in particular the progress of Kazatomprom’s ongoing evaluation of a potential future investment to introduce new uranium refining technology at the Ulba Metallurgical Plant (UMP JSC) in East Kazakhstan. If the project proceeds, it would involve Cameco’s technology which was licensed to Kazatomprom in 2020 under existing agreements.
Mr. Sharipov and Mr. Gitzel, as co-chairmen of the Kazakh-Canadian Business Council (“the Council”), also discussed the upcoming fifth meeting of the Council to be held in October 2022, in Nur-Sultan. The platform is expected to provide an additional opportunity to discuss cooperation between the business communities of both countries in key areas of interest.
For further information, please contact:
Kazatomprom Investor Relations Inquiries
Cory Kos, International Adviser, Investor Relations
Botagoz Muldagaliyeva, Director of Investor Relations
Tel: +7 (8) 7172 45 81 80
Kazatomprom Public Relations and Media Inquiries
Gazhaiyp Kumisbek, Chief Expert of GR & PR Department
Tel: +7 (8) 7172 45 80 63
A copy of this announcement will be made available at www.kazatomprom.kz.
Kazatomprom is the world's largest producer of uranium, with the Company’s attributable production representing approximately 24% of global primary uranium production in 2021. 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 Nur-Sultan, Kazakhstan, and through its Switzerland-based trading subsidiary, Trade House KazakAtom AG (THK).
For more information, please see the Company website at http://www.kazatomprom.kz
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