Kazakhstan completes sale of interest in uranium enrichment venture

19 March 2020

Kazakhstan’s National Atomic Company Kazatomprom has completed the sale of its interest in the Russia-based Uranium Enrichment Centre (UEC).

As announced on 30 January, Kazatomprom has sold its 50% interest (minus one share) in UEC to its partner in the joint venture, Russian fuel company TVEL (part of state nuclear corporation Rosatom).

The deal was valued at RUB6.253 billion (about $100m).

UEC was established in 2006 in part to implement the Comprehensive Programme of Kazakhstan-Russia Cooperation in the Peaceful Uses of Atomic Energy.

UEC owns 25% (plus 1 share) of the Urals ElectroChemical Combine (UECC) at Novouralsk, in Russia’s Sverdlovsk region. It was the first company with foreign-ownership to have an interest in a Russian uranium enrichment facility.

By retaining one share of the joint venture, Kazatomprom will continue to be provided with guaranteed access to Russian uranium enrichment services through deliveries by UEC, TVEL said.

Kazatomprom is the world's largest producer of uranium, representing approximately 24% of global primary uranium production in 2019.  

 



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