Kazatomprom, JUMCO to collaborate on uranium projects in Jordan

ASTANA. Dec 12 (Interfax) - Kazatomprom, Kazakhstan's national atomic company, has signed an agreement to collaborate on uranium projects in Jordan with the state-owned Jordan Uranium Mining Company (JUMCO), the Kazakh prime minister's press service said.

A memorandum of cooperation was signed in Amman on December 11, during the 5th session of the Kazakhstan-Jordan intergovernmental commission on trade, economic, cultural and humanitarian cooperation.

"The two parties discussed potential joint ventures in geological exploration and mineral extraction, focusing on uranium. As a result, Kazatomprom will take part in Jordan's uranium projects through its partnership with JUMCO," the press release said.

In 2023, Jordan expressed strong interest in working with Kazatomprom to develop the Kingdom's uranium deposits, conduct joint research and exchange expertise.

Kazatomprom is a leading player in uranium mining, rare metal processing and the production of beryllium and tantalum products, with all its products exported. In 2023, the company reduced its uranium production by 1% compared to the previous year, reaching 21,112 tonnes. Kazatomprom is state-controlled, with 62.99% of shares owned by Samruk-Kazyna and 12.01% by the Kazakh Finance Ministry. The free float is 25%.

JUMCO, founded in 2013, focuses on exploring and developing uranium deposits in Jordan.