JSC National Atomic Company “Kazatomprom” (“Kazatomprom” or “the Company”) announced that on 12 June 2019, the Company, under an agreement with Stepnogorsk Mining and Chemical Complex LLP (“SMCC”) signed a Certificate of Acceptance to sell its entire 76% interest in Kyzyltu LLP, to SMCC. SMCC already held the remaining 24% interest in Kyzyltu LLP.
According to the contract, for a period of one year, SMCC will maintain Kyzyltu LLP’s business profile, retain two-thirds of current staff numbers, facilities of industrial and social infrastructure, as well operating procedures and conditions of their use.
Kyzyltu LLP was established by Kazatomprom and SMCC in 2006 to focus on activities related to the Kyzyltu copper and molybdenum deposit in the Akmola region of Northern Kazakhstan.
The planned sale of interest in Kyzyltu LLP was disclosed in the Company’s IPO Prospectus and conducted in accordance with the Single Rules of Sales, Reorganization of Samruk-Kazyna JSC Assets. The sale of Kazatomprom’s non-core subsidiaries and affiliates is being carried out in the context of the Complex Privatization Plan for the years 2016–2020, approved by the Government of the Republic of Kazakhstan.
For further information, please contact:
Kazatomprom Investor Relations Inquiries
Cory Kos, Head of Investor Relations
Tel: +7 (8) 7172 45 81 80
Kazatomprom Public Relations and Media Inquiries
Torgyn Mukayeva, Head of Public Relations and Internal Communication
Tel: +7 (8) 7172 45 80 63
Powerscourt – London (Giles Read)
Tel: +44 20 7250 1446
A copy of this announcement will be made available at www.kazatomprom.kz.
Kazatomprom is the world's largest producer of uranium, with the company’s attributable production representing approximately 23% of global primary uranium production in 2018. The Group benefits from the largest reserve base in the industry and operates, through its subsidiaries, JVs and Associates, 26 deposits grouped into 13 mining assets. All of the Company’s operations are located in Kazakhstan and mined using ISR technology with a focus on maintaining industry-leading health, safety and environment standards.
Kazatomprom securities are listed on the London Stock Exchange and Astana International Exchange. As the national atomic company in the Republic of Kazakhstan, the Group's primary customers are operators of nuclear generation capacity, and the principal export markets for the Group's products are China, South and Eastern Asia, Europe and North America. The Group sells uranium and uranium products under long-term contracts, short-term contracts, as well as in the spot market, directly from its headquarters in Nur-Sultan, Kazakhstan, and through its Switzerland-based trading subsidiary, Trade House KazakAtom AG (THK).
For more information, please see our newly updated website at http://www.kazatomprom.kz
About Stepnogorsk Mining and Chemical Complex LLP
SMCC (Stepnogorsk Mining and Chemical Complex) was established on September 9, 2004. The Company’s activities include production of uranium oxide concentrate and copper-molybdenum float concentrate.
All statements other than statements of historical fact included in this communication or document are forward-looking statements. Forward-looking statements give the Company’s current expectations and projections relating to its financial condition, results of operations, plans, objectives, future performance and business. These statements may include, without limitation, any statements preceded by, followed by or including words such as “target,” “believe,” “expect,” “aim,” “intend,” “may,” “anticipate,” “estimate,” “plan,” “project,” “will,” “can have,” “likely,” “should,” “would,” “could” and other words and terms of similar meaning or the negative thereof. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the Company’s control that could cause the Company’s actual results, performance or achievements to be materially different from the expected results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding the Company’s present and future business strategies and the environment in which it will operate in the future. THE INFORMATION WITH RESPECT TO ANY PROJECTIONS PRESENTED HEREIN IS BASED ON A NUMBER OF ASSUMPTIONS ABOUT FUTURE EVENTS AND IS SUBJECT TO SIGNIFICANT ECONOMIC AND COMPETITIVE UNCERTAINTY AND OTHER CONTINGENCIES, NONE OF WHICH CAN BE PREDICTED WITH ANY CERTAINTY AND SOME OF WHICH ARE BEYOND THE CONTROL OF THE COMPANY. THERE CAN BE NO ASSURANCES THAT THE PROJECTIONS WILL BE REALIZED, AND ACTUAL RESULTS MAY BE HIGHER OR LOWER THAN THOSE INDICATED. NONE OF THE COMPANY NOR ITS SHAREHOLDERS, DIRECTORS, OFFICERS, EMPLOYEES, ADVISORS OR AFFILIATES, OR ANY REPRESENTATIVES OR AFFILIATES OF THE FOREGOING, ASSUMES RESPONSIBILITY FOR THE ACCURACY OF THE PROJECTIONS PRESENTED HEREIN. The information contained in this communication or document, including but not limited to forward-looking statements, applies only as of the date hereof and is not intended to give any assurances as to future results. The Company expressly disclaims any obligation or undertaking to disseminate any updates or revisions to such information, including any financial data or forward-looking statements, and will not publicly release any revisions it may make to the Information that may result from any change in the Company’s expectations, any change in events, conditions or circumstances on which these forward-looking statements are based, or other events or circumstances arising after the date hereof.