Kazatomprom strikes large uranium sale deal with Chinese buyers

Reuters | October 15, 2024 | 7:24 am Top Companies China Russia and Central Asia Uranium

World’s largest uranium miner Kazatomprom ups 2024 production goals

Kazatomprom operates through its subsidiaries, JVs and associates, 26 deposits grouped into 14 asset clusters, all of which are located in Kazakhstan. (Image courtesy of Kazatomprom.)

Kazakhstan-based Kazatomprom, the world’s largest uranium miner, has reached an agreement with CNNC Overseas Limited and China National Uranium Corporation Limited on the sale of natural uranium concentrates, it said on Tuesday.

“The transaction value, cumulative with the previously concluded transactions with CNUC and CNNC Overseas, comprises fifty percent or more of the total book value of the company’s assets,” it said in a statement.

Kazatomprom didn’t provide details on the volume of the deal, which will require shareholders’ approval at a Nov. 15 meeting.

(By Olzhas Auyezov; Editing by Bernadette Baum)