KAP and JUMCO sign an MoU
AIX: KAP, KAP.Y (GDR)
LSE: KAP (GDR)
19 February 2025, Astana, Kazakhstan
Kazatomprom and JUMCO develop cooperation in the uranium industry
During the official visit of the President of the Republic of Kazakhstan Kassym-Jomart Tokayev to Jordan, Kazatomprom and Jordan Uranium Mining Company (JUMCO) signed a memorandum of understanding and cooperation.
"Partnership with JUMCO opens new avenues for international cooperation and strengthens Kazakhstan's position in the global uranium industry, supporting our strategic goals to expand and efficiently utilise our resource base. Furthermore, potential development of projects beyond Kazakhstan presents a unique opportunity to gain global expertise and contribute to the sustainable development of our nations," - said Meirzhan Yussupov, Chief Executive Officer of Kazatomprom.
The document focuses on a joint study of uranium exploration and mining projects in Jordan in order to assess their potential for further development. This initiative is aimed at refining geological characteristics and resources estimates of the deposits considering the heap leaching mining technology. Significant emphasis will be placed on environmental sustainability and economic feasibility of the project when evaluating the potential for its implementation.
"This memorandum aims to develop joint uranium mining projects in Jordan and sets the potential stage for JUMCO to accelerate its pace toward commercial production of uranium in Jordan through cooperation with Kazatomprom. Indeed, it will pave the ground for JUMCO to facilitate knowledge exchange, share experience and marketing techniques with Kazatomprom, a world leader in uranium production," - said Mohammad Al-Shannag, General Manager of JUMCO.
Implementation of joint projects opens up promising opportunities for Jordan's nuclear industry, including new labour market opportunities, infrastructure development, and engagement of local contractors. For Kazakhstan, the world's leading uranium producer, entering a new market could be a significant step toward expanding its global presence, strengthening strategic positions, and enhancing bilateral economic ties with Jordan.
Both companies are committed to long-term cooperation based on the principles of safety, efficiency, and environmental responsibility. Knowledge exchange, adoption of new technologies, and collaborative efforts to improve industry standards will establish a strong and sustainable foundation for the development of the uranium sector in both countries.
For more details, please contact:
Public Relations and Media Inquiries
Altynay Karibzhanova, Chief Expert, Public Relations
Tel: +7 7172 45 80 63
Email: pr@kazatomprom.kz
Investor Relations Inquiries
Botagoz Muldagaliyeva, Director, Investor Relations
Tel.: +7 7172 45 81 80/69
Email: ir@kazatomprom.kz
About Kazatomprom
Kazatomprom is the world's largest producer of uranium with the Company's attributable production representing approximately 20% of global primary uranium production in 2023. The Group benefits from the largest reserve base in the industry and operates, through its subsidiaries, JVs and Associates, 27 deposits grouped into 14 mining assets. All of the Company's mining operations are located in Kazakhstan and extract uranium using ISR technology with a focus on maintaining industry-leading health, safety and environment standards (ISO 45001 and ISO 14001 certified).
Kazatomprom securities are listed on the London Stock Exchange and the Astana International Exchange. Kazatomprom is the national atomic company in the Republic of Kazakhstan, the Group's primary customers are operators of nuclear generation capacity, the principal export markets for the Group's products are China, South and Eastern Asia, Europe and North America. The Group sells uranium and uranium products under long-term contracts, short-term contracts as well as in the spot market, directly from its headquarters in Astana, Kazakhstan, and through its Switzerland-based trading subsidiary, Trade House KazakAtom AG (THK).
For more information, please see the Company website at www.kazatomprom.kz.
About JUMCO
Jordan Uranium Mining Company (JUMCO) is a state-owned company founded in 2013 with the support of the Jordanian government to manage and develop the country's uranium resources. The main purpose of JUMCO is to explore, develop and extract uranium resources to meet Jordan's energy needs and possible uranium exports.
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