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National Atomic Company Kazatomprom JSC GDR RegS ( (NATKY) ) has issued an announcement.
Kazatomprom has announced significant amendments to Kazakhstan’s Subsoil and Subsoil Use Code affecting the uranium sector, granting the company priority rights to obtain exploration licences in prospective uranium areas and to reserve mineralised blocks, while limiting other subsoil users’ ability to secure production rights where uranium is discovered in their licences. Under the revised regime, new uranium production agreements can only be transferred to entities in which Kazatomprom holds more than 75%, extensions of existing production agreements and increases in production or reserve volumes require either a minimum 90% Kazatomprom stake in joint ventures or the transfer of uranium conversion and enrichment technologies by foreign partners, and additional exploration at producing deposits is reserved for Kazatomprom or entities it controls at 90%, reinforcing state control over strategic uranium resources while leaving current joint-venture ownership structures unchanged and underscoring the company’s intent to consolidate its leading global position in the nuclear fuel market.
More about National Atomic Company Kazatomprom JSC GDR RegS
Kazatomprom is the world’s largest producer of uranium, accounting for about 21% of global primary uranium output in 2024 and operating 27 deposits grouped into 14 mining assets in Kazakhstan, all using in-situ recovery (ISR) technology under ISO 45001 and ISO 14001 standards. As Kazakhstan’s national atomic company, its key customers are nuclear power plant operators across Asia, Europe and North America, selling uranium and related products via long- and short-term contracts and the spot market through its Astana headquarters and its Swiss trading subsidiary, with securities listed on the London Stock Exchange and Astana International Exchange.
Learn more about NATKY stock on TipRanks’ Stock Analysis page.