National Atomic Company Kazatomprom JSC ("Kazatomprom" or “the Company") has now formally signed the framework agreement with Genchi Global Limited for the Company’s investment in the physical uranium fund "ANU Energy OEIC Ltd." ("ANU Energy" or “the Fund"), registered on Astana International Financial Center (“AIFC”), and the Fund will begin operations.
Mazhit Sharipov, Chief Executive Officer of Kazatomprom and Ali Ashraf, Director of Genchi Global Limited attended the signing ceremony. Additional guests included Almassadam Satkaliyev, CEO of Samruk-Kazyna JSC, Kairat Kelimbetov, AIFC Governor, and Galymzhan Tajiyakov, CEO of National Investment Corporation of the National Bank of Kazakhstan JSC.
The framework agreement defines the terms of Kazatomprom's investment and mechanisms for the supply of uranium products from Kazatomprom to the Fund, as a key supplier. The document also provides a number of mechanisms regarding the lock-up period and price threshold after which the Fund could be able to sell certain amounts of uranium to the market, with Kazatomprom having a priority right to repurchase any uranium the Fund decided to sell. The primary purpose of the conditions is to maintain the future balance of supply and demand in the market.
"The creation of this uranium fund has been maturing for several years,” Mazhit Sharipov, Kazatomprom’s CEO noted, “the project is being implemented within the framework of Samruk-Kazyna’s 2022-2031 Development Strategy, and Kazatomprom’s value strategy, which is focused on creating long-term market value for all stakeholders. I would like to express my gratitude to everyone who worked on the project, and I am sure that it will open up new prospects for the development of the uranium industry in Kazakhstan and beyond."
ANU Energy is a uranium fund that will provide direct access to commodity and sovereign wealth funds, state-owned enterprises, and various categories of investors from emerging markets, especially those focused on environmental, social responsibility and corporate governance issues (ESG), and clean energy investment.
As previously reported, the purpose of the Fund is to store physical uranium as a long-term investment, the initial acquisition of which will be carried out using the total US$50 million joint investment of the Fund’s founders. The Fund’s founders are Kazatomprom (48.5%), National Investment Corporation of the National Bank of Kazakhstan JSC (48.5%) and Genchi Global Limited (3%).
For further information, please contact:
Kazatomprom Investor Relations Inquiries
Cory Kos, Director of Investor Relations
Tel: +7 (8) 7172 45 81 80
Kazatomprom Public Relations and Media Inquiries
Torgyn Mukayeva, Chief Expert of GR & PR Department
Tel: +7 (8) 7172 45 80 63
Kazatomprom is the world's largest producer of uranium, with the Company’s attributable production representing approximately 23% of global primary uranium production in 2020. Kazatomprom 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 certified).
Kazatomprom securities are listed on the London Stock Exchange and Astana International Exchange. As the national atomic company in the Republic of Kazakhstan, its primary customers are operators of nuclear generation facilities and the principal export markets for the Company’s products are China, South and Eastern Asia, Europe and North America. Kazatomprom sells uranium and uranium products under short- and long-term contracts directly from its headquarters in Nur-Sultan, Kazakhstan, and through its Switzerland-based trading subsidiary, Trade House KazakAtom AG (THK).
For more information, please visit the Company’s website at http://www.kazatomprom.kz
About the National Investment Corporation of the National Bank of Kazakhstan
National Investment Corporation of the National Bank of Kazakhstan (NIC), an investment arm of Kazakhstan’s National Bank, is a global institutional investor. NIC has been managing a part of Kazakhstan’s sovereign wealth since 2012. NIC invests for the long-term with an aim to diversify international reserves and maximize returns of the funds entrusted to it without taking undue risk. Its primary focus is making investments in alternative asset classes, namely international private equity, real estate, infrastructure and hedge funds, as well as strategic investments on behalf of the National Bank of Kazakhstan.
For more information, please visit NIC’s website at https://www.nicnbk.kz
About Genchi Global Limited
Genchi Global Limited is a United Arab Emirates-based investment company that invests and builds value across the world by taking operational control in companies occupied with Engineering and Design Services, Commodities Trading, Organic Farming, and Real estate development, with its presence in UAE, India and Singapore.
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.