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Kazatomprom presented prospects for production of uranium and rare metals at the AMM Congress

10 June
Kazatomprom presented prospects for production of uranium and rare metals at the AMM Congress

The 14th International Astana Mining & Metallurgy Congress took place in Astana on 6-7 June. The Era of Metals – Challenges and Solutions was the main theme of this year’s congress, highlighting Kazakhstan’s prospects for extraction and processing of rare earth metals, which have become the “new oil” and the most important sector of the country’s economy.

According to the Decree of the President of the Republic of Kazakhstan, Kazatomprom has been  designated as the national operator for the export and import of uranium and its compounds, and  nuclear fuel for power plants. The company's activities in the field of rare metals (production of tantalum, niobium and beryllium) are carried out in accordance with the delineation of the national companies’ subsoil use activities, approved by the Decree of the Government of the Republic of Kazakhstan.

Kazatomprom’s session dedicated to new prospects in the production of uranium and rare metals was held as part of the event.

“Kazakhstan occupies a leading position in the uranium mining industry, annually providing about 40% of the primary natural uranium production. Kazatomprom, as a national operator, has long-standing partnerships both in Kazakhstan and abroad, and is constantly working to diversify its transport routes and customer database. We will continue to actively participate in ensuring stable and reliable supplies of uranium for nuclear power plants around the world”, said Dastan Kosherbayev, Kazatomprom’s Chief Strategy and International Development Officer.

Kazatomprom’s Managing Director for Geological Exploration and Development of Rare and Rare Earth Metals (“RM and REM”) Kaiyrkhan Tutkyshbayev spoke about the company’s current work in the field of RM and REM, as well as its potential in the production of rare metals. He told about  ongoing projects on the associated extraction of rare earth metals from uranium products, the development of technologies for the production of rhenium and the replenishment of rare metals’ mineral resource base. These efforts are carried out as part of the company's scientific and technological development program aimed at creating a domestic mineral resource base for the production of tantalum and beryllium products.

In addition, he noted the work on projects aimed at creating new products with high added value. Production of spheroidized tantalum powders and beryllium-based intermetallic alloys are the example of such a project.

Detailed information was also provided on the activities of Kazatomprom’s subsidiary, Ulba Metallurgical Plant JSC, which is one of three enterprises in the world with a fully integrated beryllium production cycle and the only tantalum production plant in the CIS.

The award ceremony of Golden Hephaestus national industry competition was also held as part of the congress, which is the most prestigious award of republican significance for mining and metallurgical specialists. Following competition results, Kazatomprom came 2nd in the Best ESG Strategy nomination and 3rd in Best Social Project of the Year with the project “IQANAT Educational Camp for children of employees of Kazatomprom subsidiaries and affiliates”. The chief engineer of SMCC mine, Alexey Mikheyev, won 2nd place in Professional of the Year (enrichment specialist) nomination.

Astana Mining & Metallurgy Congress once again confirmed the important role of Kazakhstan in the mining and metallurgical industry, and innovative technologies and promising projects of Kazatomprom strengthened its leadership in the uranium mining sector and the production of rare metals.

 

For more details, please contact:

Public Relations and Media Inquiries

Askar Atagulin, Director, 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 20% 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, 26 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 environmental standards (ISO 45001 and ISO 14001 compliant).

Kazatomprom securities are listed on the London Stock Exchange, Astana International Exchange, and Kazakhstan Stock Exchange. As the national atomic company in the Republic of Kazakhstan, the Group's primary customers are operators of nuclear generation capacity, and 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.

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