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Kazatomprom increases ownership of 2 uranium projects

JSC National Atomic Co. Kazatomprom said Dec. 14 that it completed the acquisition of a 40.05% stake in Energy Asia (B.V.I.) Ltd., increasing its interests in the Kharasan and Kharassan-2 uranium mines in southern Kazakhstan.

The company, which recently listed on the London Stock Exchange and the Astana International Exchange, also acquired a 16.02% participatory interest in the chartered capital of the Khorasan-U LLP joint venture from Energy Asia, in which various Japanese corporations hold stakes.

As a result of the deal, Kazatomprom's interests comprise 52.5% of Baiken-U LLP and 50% each of Kyzylkum LLP and Khorasan-U LLP.

Kazatomprom, Energy Asia Holdings Ltd. and Uranium One Utrecht BV established the Khorasan-U partnership in May 2014 to extract uranium from Kharasan-1 using in situ leaching, to be processed at a nearby site.

Kyzylkum and Baiken were likewise established to carry out production and exploration at Khorasan-1 and Kharassan-2.

Of Kazatomprom's 17 mine projects, five are wholly owned by the company and 12 are joint ventures with foreign equity holders.