Kazatomprom plans to supply batches of uranium to Russia's Uranium One, China's SNURDC
ASTANA. Aug 21 (Interfax) - Kazatomprom has reached agreements on the sale of natural uranium concentrate (U3O8) to Uranium One (Russia) and State Nuclear Uranium Resource Development Company (SNURDC, China), according to a statement from the Kazakh national company on the Astana International Exchange (AIX).
It is expected that Kazatomprom will supply a batch of uranium concentrate to the Siberian Chemical Combine for Uranium One and to the Alashankou railway station for SNURDC.
According to the statement, it is planned that the conclusion of major transactions will be considered at an extraordinary meeting of the company's shareholders in September, including a contract for supplying natural uranium in the form of U3O8 with Uranium One and a spot forward contract for the purchase and sale of natural uranium concentrate with SNURDC.
It is noted that the details of the transactions regarding pricing, amounts and delivery dates cannot be disclosed due to confidentiality conditions. However, the parameters "correspond to current market conditions and prevailing market trends," the company said.
Kazatomprom is engaged in uranium mining, rare metals processing, and the production and sale of beryllium and tantalum products. All of its products are exported. The company is controlled by the state (including the Samruk-Kazyna state fund which holds 62.99% of shares, and the Kazakh Finance Ministry which holds 12.01%), with a free float of 25%.
Uranium One is an international group of companies, part of the management structure of the TENEX group of companies of Rosatom state corporation, one of the largest uranium mining companies in the world with a diversified portfolio of international assets. Uranium One is one of the participants/shareholders of Kazatomprom's joint ventures - JV UGHK LLP, JSC JV Akbastau and Karatau LLP.
SNURDC is a subsidiary of State Power Investment Corporation Limited (SPIC), responsible for the supply of uranium and fuel assemblies, with a mandate to invest in research, development and exploration of uranium ore. In December 2017, SNURDC received a state license for the import of natural uranium concentrates.
