Kazatomprom Shareholders Approve Major Chinese Uranium Contract, Reject Deal With Russia

Proposed agreement with Moscow saw abstentions of 88%

Kazatomprom Shareholders Approve Major Chinese Uranium Contract, Reject Deal With Russia
Kazatomprom is the world’s largest uranium producer, with mining operations across the country and customers in Asia, Europe and the Americas. Courtesy Kazatomprom.

Shareholders of Kazakhstan’s national nuclear company Kazatomprom have approved a uranium supply contract with China’s State Nuclear Uranium Resource Development Company (SNURDC), but a separate contract with Russia’s Uranium One Group failed to get the green light.

The company announced details of the results following an extraordinary general meeting.

The contracts cover the sale and purchase of natural uranium concentrates.

The Chinese contract received 88.63% support from shareholders.

The proposed Uranium One contract received 5.39% support, with 6.27% opposed and 88.34% abstaining.

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