National Atomic Company Kazatomprom JSC and Emirates Nuclear Energy Corporation (ENEC) have signed the first ever contract for the supply of Kazakh natural uranium concentrates for the energy needs of the United Arab Emirates (UAE) Barakah nuclear energy plant (NEP).
The signing took place within the framework of the official visit of the President of the Republic of Kazakhstan Kassym-Jomart Tokayev to the UAE, during which the delegation of Kazatomprom took part in the United Nations Conference on Climate Change COP28.
”We are proud that the first ever commercial contract between Kazatomprom and ENEC will mark the beginning of valuable and promising cooperation between our companies. We are excited to add the UAE to our sales geography and appreciate the recognition of Kazatomprom with its exceptional supply track record and sustainable market reputation as a part of the UAE’s energy security and net-zero agenda. We hope our partnership will only strengthen in the future resulting in new contracts for the reliable supplies of natural uranium for the Barakah NEP,” said Meirzhan Yussupov, Kazatomprom’s Chief Executive Officer.
His Excellency Mohamed Al Hammadi, ENEC’s Managing Director and Chief Executive Officer commented: ”Signing this contract with Kazatomprom, the largest uranium producer globally, is strategically important for ENEC in further diversifying and securing fuel supplies. With a significant positive shift in many nations to include civil nuclear energy as part of their energy mix, security of fuel supply is paramount. Adding Kazatomprom boosts our roster of fuel partners further, ensuring a sustainable fuel supply for the generation of clean electricity to decarbonize energy intensive and heavy industry in the UAE”.
The conclusion of the contract with a large energy company of the UAE will serve as a new impetus for cooperation between nuclear companies of both countries and will also open a new country in the geography of Kazatomprom sales.
The scope and commercial terms of the contract are confidential and commercially sensitive and are not subject to public disclosure.
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 22% of global primary uranium production in 2022. 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 environment standards.
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.
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