Kazatomprom announces the change of the partners in some JVs

National Atomic Company Kazatomprom JSC (“Kazatomprom” or “the Company”) announces the exit of its Russian partner from some joint ventures. Uranium One Group JSC, part of the Rosatom State Corporation, has sold its 49.979% share in JV Zarechnoye JSC to SNURDC Astana Mining Company Limited, the ultimate beneficiary of which is State Nuclear Uranium Resources Development Co., Ltd. (China). Kazatomprom's share in this joint venture remains unchanged amounting 49.979%.

JV Zarechnoye JSC operates at Zarechnoye deposit in Turkestan region, which was discovered in 1977. Uranium reserves of this deposit amounted to approximately 3.5 thousand tonnes at the beginning of 2024. Completion of mining operations at Zarechnoye deposit is expected in 2028.

It is expected that Uranium One Group JSC will also alienate 30% participation interest in the charter capital of JV Khorasan-U LLP and 30% participation interest in the charter capital of Kyzylkum LLP to China Uranium Development Company Limited, the ultimate beneficiary of which is China General Nuclear Power Corporation (CGN, China), subject to the completion of closing procedures of the transaction by its parties. Kazatomprom’s share in these assets remains unchanged and the Company continues to hold 50% in JV Khorasan-U LLP and 50% (indirect) in Kyzylkum LLP.

JV Khorasan-U LLP operates at Kharasan-1 block of Severny Kharasan deposit in Zhanakorgan district of Kyzylorda region. Uranium reserves of the deposit amounted to about 33 thousand tonnes at the beginning of 2024, with an expected maturity in 2038. All uranium mined at JV Khorasan-U LLP is processed at the production facilities of Kyzylkum LLP, which are located directly at the mining site. Kyzylkum LLP does not hold any subsoil use rights and is only engaged in providing uranium processing services.

The Company welcomes new partners and wishes success in joint work. Kazatomprom is currently focused on its strategic priority to replenish mineral resource base and ensure sustainable growth of reserves. The Company has launched a large-scale exploration program aimed at assessing promising territories and discovering new deposits. The program is already bringing positive results, strengthening Kazatomprom's long-term leadership position. This year alone, the Company has obtained four new licenses for the exploration of promising uranium blocks which Kazatomprom plans to develop exclusively on its own. Preliminary estimates show that total forecasted resources of these blocks exceed 180 thousand tonnes of uranium.