Kazatomprom signs 7-year contract for uranium concentrate supplies to Czech Republic

ASTANA. April 15 (Interfax) - Kazakh nuclear company Kazatomprom and the Czech company CEZ a.s. have signed a contract for the supply of natural uranium concentrate to Czech nuclear power plants over seven years, Kazatomprom's press service said.

"Over the next seven years, supplies of Kazakh uranium will be able to cover about one third of uranium requirements for manufacturing Westinghouse fuel assemblies used at the Temelin nuclear power plant," the press service said.

The contract was signed at CEZ a.s. headquarters in Prague, it said.

"With the signing of this agreement, Kazatomprom continues expanding its presence in Europe and strengthening its sales portfolio diversification strategy," Kazatomprom Chief Commercial Officer Vladislav Baiguzhin was quoted as saying.

Kazatomprom is engaged in uranium mining, rare metal processing, and production and marketing of beryllium and tantalum products, with 100% of its output exported. The company is state-controlled, including 62.99% of shares owned by the Samruk-Kazyna sovereign wealth fund and 12.01% by the Kazakh Finance Ministry. The free float is 25%.