9 Nov 2023 12:22

Kazatomprom secures long-term uranium supply contract with China National Uranium Company

ASTANA. Nov 9 (Interfax) - Kazatomprom , the national atomic company of Kazakhstan, has secured a long-term agreement with China National Uranium Company Limited (CNUC), a subsidiary of the leading Chinese nuclear energy firm China National Nuclear Corporation (CNNC), to supply Kazakh natural uranium concentrate to China.

"This strategic contract with a major Chinese energy company aims to support China's increasing demand for clean and carbon-free electrical energy and reinforce the historically significant partnership between Kazakhstan and China," Kazatomprom said.

The deal was finalized at the China International Import Expo 2023 in Shanghai, following the approval of the transaction at the annual general meeting of Kazatomprom's shareholders in May 2023.

"The details of the contract, including its volume and commercial terms, remain confidential due to their sensitive nature," Kazatomprom said.

CNNC is a major player in the Chinese nuclear sector, headquartered in Beijing. Kazatomprom is Kazakhstan's primary operator for exporting uranium, rare metals, and nuclear fuel, with its securities traded on the London Stock Exchange and the Astana International Financial Center exchange.