Kazakhstan has struck a deal with China for the sale of a large batch of uranium valued at $2.5 million. The news was revealed during an extraordinary general meeting of shareholders of “Kazatomprom,” the world’s leading uranium producer.
The radioactive element's buyers are Chinese partners **CNNC Overseas Ltd.** and **China National Uranium Corp. (CNUC),** according to the official website of Kazakhstan’s National Atomic Company.
What is the Value of the Deal?
“The total value of this transaction, combined with previously concluded deals with CNUC and CNNC Overseas, accounts for 50% or more of the company's total balance sheet assets,” the company announced on Tuesday, October 15.
The estimated contract value exceeds **1.2 trillion tenge (approximately $2.5 million).** This agreement is strategic both for the company and Kazakhstan's economy as a whole.
Global Context and Prospects for Kazakhstan’s Uranium Market
The global uranium market is currently experiencing growth. Over the past four years, uranium prices have increased significantly due to expectations of rising nuclear fuel demand.
Countries like the USA, Japan, and France have announced plans to triple the capacities of their nuclear facilities by 2050, reports Eurasiatoday.ru.
As the world’s largest uranium producer, Kazakhstan aims to further strengthen its position in the supply of radioactive elements.
Kazatomprom had already signed a contract with Chinese partners last year, though the details of those shipments remain confidential. The new deal could play a key role in enhancing Kazakhstan's role as a global uranium supplier.
The international community is closely following the developments, as the successful conclusion of the deal with China could impact the global uranium market.
If approved, the agreement is expected not only to **bolster cooperation between Kazakhstan and China in nuclear energy** but also to support further growth for Kazatomprom amidst the rising interest in nuclear fuel.
Opportunities for Nuclear Energy and International Cooperation
The agreement between **Astana and Chinese partners** opens up new opportunities for the development of nuclear energy and international collaboration in this field.
Observers will be watching closely for the outcomes, as the deal could have a significant impact on the future of the global energy sector.
About CNUC and CNNC Overseas
CNUC and CNNC Overseas are subsidiaries of the China National Nuclear Corporation (CNNC) - a state-owned Chinese corporation involved in all key aspects of the country’s nuclear industry.
CNNC is a leading operator of nuclear power plants in China, focusing on advanced nuclear technologies, nuclear facility construction, and the production of fuel for nuclear reactors.
CentralasianLIGHT.org
October 16, 2024