/KASE, July 10, 2024/ – NAC Kazatomprom JSC (Astana), whose securities are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press release dated July 10, 2024:

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JSC National Atomic Company "Kazatomprom" ("Kazatomprom" or "the Company") informs that on 1 July 2024 the Government of the Republic of Kazakhstan introduced amendments to the Tax Code of the Republic of Kazakhstan which include the following changes to the Mineral Extraction Tax (MET) rate for uranium. MET is incurred and paid by the mining entities.

In accordance with the previously updated MET methodology (effective 1 January 2023) the tax base for MET on uranium is determined as the weighted average price of uranium (in the form of natural uranium concentrate U3O8) from public price reporting sources for the corresponding reporting period, multiplied by the amount of uranium mined and a MET rate of 6%.

2025

Starting 1 January 2025 the applicable MET rate for uranium will change to 9% (only for the year 2025).

2026 and beyond

Starting 1 January 2026 a differentiated MET approach depending on the actual volume of annual production under each subsoil use agreement and the price of natural uranium concentrate (U3O8) will be introduced:

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The complete press release is available on – see more

[2024-07-10]