KAP Plans a New Contract for Uranium Mining
AIX: KAP, KAP.Y (GDR)
LSE: KAP (GDR)
Currency: KZT (₸), unless otherwise specified
26 June 2023, Astana, Kazakhstan
Kazatomprom Plans to Obtain a New Subsoil Use Agreement for Uranium Mining
JSC National Atomic Company "Kazatomprom" ("Kazatomprom" or "the Company") plans to start production at a new uranium deposit. In accordance with the Codex of the Republic of Kazakhstan "On Subsoil and Subsoil Use", Kazatomprom and the Ministry of Energy of the Republic of Kazakhstan held direct negotiations for subsoil use rights for Inkai #3 deposit.
Subsoil use Agreement will be signed based on project documents with a validity of 25 years, including pilot production phase. For the purpose of rmining uranium at Inkai #3 deposit, it is planned to construct operating assets with an annual capacity of 4,000 tU.
Inkai deposit is located in the Suzak district of Turkestan region. Uranium resources at Inkai #3 deposit amount to 83.1 ktU.
For more information, please contact:
Kazatomprom Investor Relations Inquiries
Yerlan Magzumov, Director, Investor Relations
Tel.: +7 7172 45 81 80 / 69
Email: ir@kazatomprom.kz
Kazatomprom Public Relations and Media Inquiries
Sabina Kumurbekova, Director, Public Relations
Gazhaiyp Kumisbek, Chief Expert, Public Relations
Tel.: +7 7172 45 80 22
Email: pr@kazatomprom.kz
A copy of this announcement is available at www.kazatomprom.kz.
About Kazatomprom
Kazatomprom is the largest uranium producer in the world with natural uranium production in proportion to the Company's participatory interest in the amount of about 24% of the total global primary uranium production in 2021. The group has the largest uranium reserve base in the industry. Kazatomprom, together with subsidiaries, affiliates and joint organizations, is developing 26 deposits combined into 14 uranium-mining enterprises. All uranium mining enterprises are located on the territory of the Republic of Kazakhstan and when mine uranium use in-situ recovery technology, paying particular attention to best HSE practices and means (ISO 45001 and ISO 14001 certified).
Kazatomprom's securities are listed on the London Stock Exchange, the Astana International Exchange and the Kazakhstan Stock Exchange. Kazatomprom is the National Atomic Company of the Republic of Kazakhstan, and the main customers of the group are operators of nuclear generating capacities, and the main export markets for products are China, South and East Asia, North America and Europe. The Group sells uranium and uranium products under long-term and short-term contracts, as well as on the spot market directly from its corporate centre in Astana, Kazakhstan, as well as through a trading subsidiary in Switzerland, Trading House KazakAtom (THK).
For more information, please, visit our website www.kazatomprom.kz.
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