Kazatomprom signs long-term uranium supply contract with China

15 November 2023

Kazakhstan’s National Atomic Company Kazatomprom has signed a contract for the supply of natural uranium concentrate with China National Uranium Corporation Limited (CNUC - a subsidiary of China National Nuclear Corporation). Kazatomprom said the contract will help meet China's growing need for clean, carbon-free electricity and strengthen the historically long-standing nuclear relationship between the two countries.

“Kazatomprom's market-driven strategy aims to produce, process and sell natural uranium concentrates to create long-term value for all stakeholders.” said Seitzhan Zhanybekov, Kazatomprom Managing Director for Strategy & Marketing. “Close cooperation with one of the large Chinese energy companies, such as CNUC, testifies to Kazatomprom’s strong reputation as a reliable and preferred supplier in the global nuclear fuel market.”

The signing of the contract took place at the China International Import Expo 2023 in Shanghai, as part of a previously approved transaction at the annual general meeting of shareholders in May. The scope and commercial terms of the contract are confidential and commercially sensitive and are not subject to public disclosure.

Image: The contract signing ceremony (courtesy of Kazatomprom)

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