The government of Kazakhstan allowed the sale of uranium mining assets

Kazakh government approves deals with uranium mining assets of Uranium One

The government of Kazakhstan has authorized the sale of a number of uranium mining assets in Kazakhstan in favor of Uranium One Group JSC from a number of foreign companies of the group.

“To allow Uranium One Netherlands BV to alienate a 50% stake in the Karatau limited liability partnership in favor of the Uranium One Group joint-stock company,” the republic’s government decree dated February 23 says.

In addition, the Cabinet of Ministers allowed Uranium One Utrecht BV to alienate a 30% stake in Joint Venture Khorasan-U (Khorasan-U) LLP, and Uranium One Rotterdam BV – a 70% stake in Joint Venture Yuzhnaya Mining and Chemical Company (YuGCC) in favor of Uranium One Group JSC.

According to information from the Rosatom website, Uranium One is an international group of companies that is part of the management of the TENEX group of companies of the state corporation Rosatom, one of the world’s largest uranium mining companies with a diversified portfolio of international assets in Kazakhstan, Tanzania and Namibia.

According to the company, in Kazakhstan, Uranium One owns a 70% stake in JV YuGCC LLP, which owns the Akdala and South Inkai uranium mines; 50% stake in JV “Karatau”, which owns the uranium mine “Karatau”; a 50% stake in Akbastau JV, which owns the Akbastau uranium mine; a 49.98% stake in the Zarechnoye JV, which owns the Zarechnoye uranium mine; and a 30 percent stake in Khorasan-U JV, which owns the Kharasan uranium mine.

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