Kazatomprom, JUMCO sign memorandum on joint uranium exploration in Jordan
ASTANA. Feb 19 (Interfax) - Kazatomprom and Jordan Uranium Mining Company (JUMCO) have signed a memorandum of understanding and cooperation in the joint exploration of Jordanian uranium deposits, Kazakhstan's national nuclear corporation said in a press release.
"The document focuses on a joint study of uranium exploration and mining projects in Jordan in order to assess their potential for further development. This initiative is aimed at refining geological characteristics and resources estimates of the deposits considering the heap leaching mining technology," it said.
The memorandum was signed during Kazakh President Kassym-Jomart Tokayev's visit to Jordan.
It aims to develop joint uranium mining projects in Jordan and sets the potential stage for JUMCO to accelerate its pace toward commercial production of uranium in Jordan through cooperation with Kazatomprom, said Mohammad Al-Shannag, General Manager of JUMCO.
In 2023, Jordan expressed strong interest in working with Kazatomprom to develop the Kingdom's uranium deposits, conduct joint research and exchange expertise.
Kazatomprom signed an agreement to collaborate on uranium projects in Jordan with JUMCO in Amman in December 2024, during the 5th session of the Kazakhstan-Jordan intergovernmental commission on trade, economic, cultural and humanitarian cooperation.
Tokayev's press service on Wednesday said that the two countries' governments signed a memorandum of understanding on industrial cooperation during the president's visit to Jordan.
The signed documents include a memorandum of understanding on cooperation in the peaceful use of nuclear energy between Kazakhstan's Energy Ministry and Jordan's Atomic Energy Commission. Kazakhstan's Samruk-Kazyna National Wealth Fund and Jordan's Investment Ministry signed a cooperation agreement. The respective parties also signed ten interdepartmental and commercial documents.
Kazatomprom mines uranium, processes rare metals and produces beryllium and tantalum products. The company exports 100% of its output. Kazatomprom is state-controlled, with Samruk-Kazyna holding 62.99% of shares and the Kazakh Finance Ministry owning 12.01%. The free float is 25%.
Kazatomprom increased uranium production 10% in 2024 to 23,270 tonnes, and plans to raise it 7.4%-13.9% to 25,000-26,500 tonnes in 2025.
JUMCO, founded in 2013, focuses on exploring and developing uranium deposits in Jordan.
