The Chinese company State Nuclear Uranium Resources Development acquired a share of the Russian state corporation “Rosatom” in one of the uranium projects located in Kazakhstan. About this reported Kazakh state company “Kazatomprom”, which is the world’s largest producer of uranium.
Thus, Uranium One Group, which is part of Rosatom, sold its share of 49.979% in the Zarichne joint venture to SNURDC Astana Mining Company Limited, the ultimate owner of which is the Chinese side. Kazatomprom’s share in the project remained unchanged.
The joint venture “Zarichne” is engaged in the production of uranium at the Zarichne deposit in the Turkestan region of Kazakhstan. The deposit, which was discovered back in 1977, had about 3,500 tons of uranium reserves at the beginning of 2024. It is planned to complete the development by 2028.
Uranium One Group also plans to divest its shares in two more projects: JV “Khorasan-U” and LLP “Kyzylkum”, where the Russian side owns 30% in each. The buyer will be China Uranium Development Company Limited, which is controlled by China General Nuclear Power Corporation (CGN, KPR).
