3 May 2023 15:03

Rosatom divisions receive share in Kazakhstan's Stepnogorsk Mining and Chemical Combine and the Budenovskoye uranium deposit

ASTANA. May 3 (Interfax) - Uranium One Group, part of the Uranium One division of the Rosatom Russian state corporation, and another Rosatom division, NFC Logistics Center, became participants in the Kazakhstani Stepnogorsk Mining and Chemical Combine.

"As part of the audited financial statements of Budenovskoye, based on the results of 2022, information was received from the company on a change in the composition of the participants in Stepnogorsk Mining and Chemical Plant LLP, which includes Uranium One Group and NFC Logistics Center," Kazatomprom's 2022 report says.

Stepnogorsk and Kazatomprom own the Budenovskoye joint venture (49% - Stepnogorsk, 51% - Kazatomprom), which owns the sixth and seventh sections of the large uranium deposit of the same name located in the Turkestan region. Other joint ventures with the participation of Kazatomprom are working on adjacent sections of this field.

How many shares in the plant are now owned by Uranium One Group and NFC Logistics Center is not specified.

At the end of February, it was reported that Rosatom was transferring shares in three uranium joint ventures with Kazakhstan from Dutch subsidiaries to the Russian Uranium One Group structure: a 50% stake in Karatau LLP with Uranium One Netherlands B.V.; 30% in Khorasan-U Joint Venture LLP with Uranium One Utrecht B.V., and 70% in Southern Mining and Chemical Company Joint Venture LLP with Uranium One Rotterdam B.V.

Uranium One manages Rosatom's foreign uranium assets.

The Uranium One website reports that in Kazakhstan it owns 70% in JV YuGKhK LLP, which owns the Akdala and South Inkai uranium mines; 50% in the Karatau JV, which owns the uranium mine of the same name; 30% in the Khorasan-U JV, developing the Kharasan mine, as well as 50% in the Akbastau joint venture and 49.98% in the Zarechnoye joint venture (uranium mines Akbastau and Zarechnoye, respectively). According to information on the Kazatomprom website, JV Akbastau operates in sections NN1, 3 and 4 of the Budenovskoye field, and Karatau operates in section N2 of the same field.

The co-owner from the Kazakh side is NAC Kazatomprom.