/KASE, December 29, 2020/ – NAC Kazatomprom (Nur-Sultan), whose securities are
officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with
the following press release dated December 29, 2020:
quote
JSC National Atomic Company "Kazatomprom" ("Kazatomprom" or "the Company")
announces the following update related to the Company's 2014, 2015 and 2016
agreements ("agreements") for expanding cooperation in the nuclear industry with
China General Nuclear Power Corporation ("CGNPC") and its subsidiaries, CGNPC
Uranium Resources Company Limited ("CGNPC-URC") and CGN Mining Company Limited
("CGN Mining"). Please see the Company's 2018 IPO Prospectus for further
information regarding the specific agreements.
Pursuant to the agreements, the parties created a joint venture, Ulba-FA LLP,
for the construction of a fuel assembly plant ("Ulba-FA plant") with an annual
nameplate capacity of 200 tonnes of uranium metal content equivalent in the
form of fuel assemblies ("UME"), located at the Ulba Metallurgical Plant in the
East Kazakhstan Region. In accordance with the agreements, CGNPC-URC committed
to procure 200 tonnes of UME annually from the Ulba-FA plant within 20 years
(4,000 tonnes UME in total). The Company and CGNPC agreed that subject to
Ulba-FA receiving the first fuel assembly contract from CGNPC-URC, the Company
would sell to CGNPC or its affiliates up to a 49% interest in its wholly owned
subsidiary, Ortalyk LLP, on market terms determined by a thirdparty valuation
(which is underway).
unquote
The complete press release is available on KASE website at –
https://kase.kz/files/emitters/KZAP/kzap_reliz_291220_1.pdf
[2020-12-29]