BAKU, Azerbaijan, August 21. National Atomic Company Kazatomprom JSC plans to conclude major deals for the supply of natural uranium with entities from China and Russia, according to the company's notice of the extraordinary general meeting of shareholders.
According to the document, Kazatomprom has agreed on a draft spot-term contract for the sale and purchase of natural uranium concentrates with China's State Nuclear Uranium Resource Development Company Limited (SNURDC), a subsidiary of State Power Investment Corporation Limited (SPIC). The physical delivery of the product will be executed to the Alashankou railway station in China.
In addition, Kazatomprom reached an agreement on a major contract for the supply of natural uranium with Russia’s Uranium One Group JSC, a subsidiary within Rosatom State Corporation. The delivery will be made to the Siberian Chemical Plant JSC in the Russian Federation.
Details regarding pricing, volumes, and delivery schedules for both transactions cannot be disclosed due to confidentiality requirements requested by the buyers. The company noted that the transaction parameters comply with current market conditions.
Approval of both contracts has been included in the agenda for the Extraordinary General Meeting of Shareholders (EGM), with absentee voting scheduled to conclude on October 6, 2026.
According to the company's website, Kazatomprom is the world's largest producer of uranium, with the company’s attributable production representing approximately 20 percent 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).
