KazAtomProm is considering buying a stake in the Urals Integrated Electrochemical Plant (the world’s biggest nuclear plant of enrichment uranium isotopes) from Russia’s Rosatom Nuclear Energy State Corporation. The deal would give Rosatom access to uranium resources in exchange for use of the facility.
Rosatom claims that KazAtomProm will pay for the stake either in cash or with its own assets.
The sides are considering options varying from 25% plus one share - right up to 50%.
Enriched uranium produced at the Urals Integrated Electrochemical Plant will be marketed by a joint venture to be established through a respective agreement within two months.
Russia and Kazakhstan agreed on large-scale cooperation within the nuclear industry back in 2006, but only now are they launching joint projects.
KazAtomProm is the national operator of the Republic of Kazakhstan for import and export of uranium, rare metals, nuclear fuel for power plants, special equipment and dual-purpose materials. All of the Company’s stock is held by the Government under the National Welfare Fund Samruk-Kazyna. At present, over 25,000 workers are employed by the Company. KazAtomProm is one of the world's leading uranium mining companies.
Rosatom Nuclear Energy State Corporation is a State Corporation headquartered in Moscow. It is the regulatory body of the Russian nuclear complex and comparable in function to the United States of America’s Nuclear Regulatory Commission. Rosatom controls nuclear power holding Atomenergoprom, nuclear weapons companies, research institutes and nuclear and radiation safety agencies. It also represents Russia throughout the world in the field of peaceful use of nuclear energy and protection of the non-proliferation regime.
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