Kazatomprom Seeks Shareholder Approval for Major Uranium Supply Deal With India

National Atomic Company Kazatomprom JSC GDR RegS ( (NATKY) ) has shared an announcement.

Kazatomprom has called an absentee Extraordinary General Meeting of Shareholders for early April 2026 to approve a major transaction involving a long-term contract for the sale and purchase of natural uranium concentrates with India’s Directorate of Purchase & Stores. The deal, which exceeds 50% of Kazatomprom’s total asset book value, would see physical deliveries of U3O8 to India and underscores the company’s role as a key supplier to the Indian nuclear sector, while giving shareholders a direct say due to its transformative scale under Kazakh corporate law.

The company has set a record date of 6 March 2026 for shareholder eligibility, with absentee ballots accepted from 26 March to 6 April and counted on 7 April, and has outlined detailed voting procedures for both domestic shareholders and holders of global depositary receipts. By formalizing this contract through shareholder approval, Kazatomprom could further strengthen its long-term commercial ties with a strategic Asian nuclear market, potentially reinforcing its export portfolio and global industry positioning, even though specific commercial terms remain confidential at DPS’s request.

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 using in-situ recovery technology. The national atomic company serves nuclear power operators across Asia, Europe and North America, selling uranium and related products via long-term and short-term contracts, the spot market and a Swiss-based trading subsidiary, with securities listed in London and on the Astana International Exchange.

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