Kazatomprom, JUMCO sign heads of agreement for Central Jordan Uranium Project
ASTANA. Aug 27 (Interfax) - Kazatomprom and Jordan Uranium Mining Company (JUMCO) have signed a heads of agreement relating to the development of Central Jordan Uranium Project, the Kazatomprom press service said.
The document was signed during the official visit of King Abdullah II bin Al-Hussein of Jordan to Astana. The agreement aims to formalize the parties' intentions and define the basic terms for the implementation of the project.
The purpose of the agreement is to develop the strategic partnership between Kazakhstan and Jordan, creating new opportunities for international cooperation, and expanding Kazatomprom's position in the global uranium industry.
"Our partnership is designed to combine Jordan's unique resource base with Kazakhstan's proven expertise in sustainable and efficient uranium mining. We look forward to exploring the project in Central Jordan, which could become an example of promising international cooperation in the nuclear industry," Meirzhan Yussupov, Kazatomprom CEO, is quoted as saying.
"This agreement represents a significant step forward in Jordan's nuclear fuel cycle strategy. Through the partnership with the world's leading uranium producer, we are able to develop Jordan's uranium resources in line with leading international practice, contributing to the national economy," said JUMCO Chairman of the Board of Directors Khaled Toukan.
Kazatomprom majority shareholder Samruk-Kazyna said earlier that Kazakhstan and Jordan planned to set up a joint venture to develop uranium deposits in Jordan, with Kazatomprom holding a 70% stake and JUMCO 30%.
Research and pilot production will be carried out until the end of 2026 to assess uranium recovery and processing potential. If results are positive, the joint venture will be launched.
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.
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%.
JUMCO, founded in 2013, focuses on exploring and developing uranium deposits in Jordan.
