KAP Signs a New Supply Agreement with ČEZ, a. s.
AIX: KAP, KAP.Y (GDR)
LSE: KAP (GDR)
15 April 2025, Astana, Kazakhstan
Kazatomprom Signs a New Supply Agreement with ČEZ, a. s.
National Atomic Company Kazatomprom JSC ("Kazatomprom" or the "Company") has signed into a landmark agreement with ČEZ, a. s., marking a significant expansion of its presence in Europe and further strengthening its position in the global uranium market. The supply of Kazakh natural uranium concentrates in the next seven years can cover approximately one-third of uranium needs for Westinghouse-manufactured fuel assemblies for the Temelín nuclear power plant. The agreement enhances the energy security of the Czech Republic and supports the plant´s role in providing clean and sustainable energy.
ČEZ, a. s., is a leading energy company in Central Europe and a key player in nuclear power generation. Operates six nuclear reactors (at the two sites of Dukovany and Temelin), which supply around 36% of the Czech Republic's electricity needs. Together with non-nuclear sources ČEZ supplies a significant portion of Czechia's electricity, ensuring reliable and sustainable energy for the region.
The official signing ceremony took place at ČEZ, a. s., headquarters in Prague, with high-level representatives from both companies present. This deal follows a series of strategic partnerships Kazatomprom has established globally, showcasing its ongoing expansion and commitment to diversifying its sales channels.
"With this new agreement, Kazatomprom continues to grow its footprint in the European market and advance its strategy of diversifying sales portfolio, said Vladislav Baiguzhin, Chief Commercial Officer of Kazatomprom. "This is another important milestone in our mission to be a partner of choice for the global nuclear energy industry. As we build on our previous contracts, partnerships such as this one with ČEZ, a. s., allow us to support energy security in the region while advancing our shared goals of decarbonisation and sustainability".
Bohdan Zronek, Member of Board and Chief of the Nuclear Energy Division of, ČEZ, a. s., added: "Securing a partnership with Kazatomprom diversifies our portfolio of suppliers and have strategic importance for ČEZ and Czech Republic. It ensures that our nuclear power plants will continue to have a stable and reliable source of fuel, which is essential for meeting our energy needs and driving our decarbonisation plan (VIZE 2030) to achieve net-zero goals".
The agreement with ČEZ, a. s., follows a successful track record of Kazatomprom's international collaborations, further solidifying its status as a leading producer and supplier of natural uranium. This deal not only strengthens ties between the two companies but also represents a significant step in the ongoing evolution of Europe's energy landscape.
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 21% of global primary uranium production in 2024. 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.
Forward-looking statements
All statements other than statements of historical fact included in this communication or document are forward-looking statements. Forward-looking statements give the Company's current expectations and projections relating to its financial condition, results of operations, plans, objectives, future performance and business. These statements may include, without limitation, any statements preceded by, followed by or including words such as "target," "believe," "expect," "aim," "intend," "may," "anticipate," "estimate," "plan," "project," "will," "can have," "likely," "should," "would," "could" and other words and terms of similar meaning or the negative thereof. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the Company's control that could cause the Company's actual results, performance or achievements to be materially different from the expected results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding the Company's present and future business strategies and the environment in which it will operate in the future.
THE INFORMATION WITH RESPECT TO ANY PROJECTIONS PRESENTED HEREIN IS BASED ON A NUMBER OF ASSUMPTIONS ABOUT FUTURE EVENTS AND IS SUBJECT TO SIGNIFICANT ECONOMIC AND COMPETITIVE UNCERTAINTY AND OTHER CONTINGENCIES, NONE OF WHICH CAN BE PREDICTED WITH ANY CERTAINTY AND SOME OF WHICH ARE BEYOND THE CONTROL OF THE COMPANY. THERE CAN BE NO ASSURANCES THAT THE PROJECTIONS WILL BE REALISED, AND ACTUAL RESULTS MAY BE HIGHER OR LOWER THAN THOSE INDICATED. NONE OF THE COMPANY NOR ITS SHAREHOLDERS, DIRECTORS, OFFICERS, EMPLOYEES, ADVISORS OR AFFILIATES, OR ANY REPRESENTATIVES OR AFFILIATES OF THE FOREGOING, ASSUMES RESPONSIBILITY FOR THE ACCURACY OF THE PROJECTIONS PRESENTED HEREIN.
The information contained in this communication or document, including but not limited to forward-looking statements, applies only as of the date hereof and is not intended to give any assurances as to future results. The Company expressly disclaims any obligation or undertaking to disseminate any updates or revisions to such information, including any financial data or forward-looking statements, and will not publicly release any revisions it may make to the Information that may result from any change in the Company's expectations, any change in events, conditions or circumstances on which these forward-looking statements are based, or other events or circumstances arising after the date hereof.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
Latest directors dealings
- 11 minutes ago Diageo
- 17 minutes ago IMI
- 39 minutes ago Softcat
- 4 hours ago Tertiary Minerals
- 4 hours ago Hargreaves Services