Kazatomprom sells 75% ownership interest in Astana Solar LLP, Kazakhstan Solar Silicon LLP and KazSilicon MC LLP

18 May
Kazatomprom sells 75% ownership interest in Astana Solar LLP, Kazakhstan Solar Silicon LLP and KazSilicon MC LLP

Today, JSC National Atomic Company “Kazatomprom” (“Kazatomprom” or “the Company”) announced that following the Astana Economic Forum, the Company signed a contract with a Consortium of Strategic Investors (“the Consortium”, including Yadran Solar company (Russia), ECM Greentech (France) and Kasen/Canadian Solar (PRC)) for the sale of 75% of the charter capital of a consolidated package of companies (“KazPV project”), which includes Astana Solar LLP, Kazakhstan Solar Silicon LLP and KazSilicon MC LLP. Askar Mamin, Prime Minister of the Republic of Kazakhstan, took part in the official signing ceremony.

The sale of Kazatomprom’s non-core subsidiaries and affiliates is being carried out in the context of the Complex Privatization Plan for the years 2016–2020, approved by the Government of Kazakhstan. The planned sale of non-core assets, like the KazPV project companies, was disclosed in the Company’s IPO Prospectus and conducted in accordance with the Single Rules of sales, reorganization of Samruk-Kazyna JSC assets. According to the contract, the Consortium will maintain the companies’ business profile, staff numbers and current salary levels, as well as perform to the companies’ existing contracts. As per the contract, in three years’ time, the Consortium will also purchase from Kazatomprom the remaining 25% ownership interest in the KazPV project. The Consortium intends to restart the purchased companies and produce solar cells in Kazakhstan, using the high-purity quartz of the Sarykol deposit from the Almaty region, also in Kazakhstan. With the assistance of the Consortium’s strategic partner, CEEC NWPC (PRC), the locally-produced photovoltaic modules will be used in the construction of solar stations in Kazakhstan and in neighboring countries.

 

The activities of the KazPV project include:

 

Kazakhstan Solar Silicon LLP – production of photoelectric cells from solar purity silicon, used in photoelectric module production.

Astana Solar LLP – production of photoelectric modules used for conversion of solar energy to electric energy.

KazSilicon MC LLP – production of metallurgical silicon from the extraction and processing of gangue quartz with 98.5%-99.5% silicon dioxide.

 

Contact information

For further information, please contact:

 

Kazatomprom Investor Relations Inquiries

Cory Kos, Head of Investor Relations
Tel: +7 (8) 7172 45 81 69
Email: ir@kazatomprom.kz

Kazatomprom Public Relations and Media Inquiries                                                                    

Torgyn Mukayeva
Tel: +7 (8) 7172 45 80 63
Email: pr@kazatomprom.kz

Powerscourt – London (Giles Read)
Tel: +44 20 7250 1446
Email: Kazatomprom@powerscourt-group.com

A copy of this announcement will be made available at www.kazatomprom.kz.

About Kazatomprom

Kazatomprom is the world's largest producer of uranium, with the company’s attributable production representing approximately 23% of total global uranium primary production in 2018. The Group benefits from the largest reserve base in the industry. Kazatomprom operates, through its subsidiaries, JVs and Associates, 26 deposits grouped into 13 mining assets, all of which are located in Kazakhstan and mined using ISR technology with a focus on maintaining industry-leading health, safety and environment standards.

Kazatomprom securities are listed on London Stock Exchange and Astana International 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 or through its Switzerland-based trading subsidiary, THK.

For more information please see our newly updated website at http://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 REALIZED, 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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