KAP obtains uranium exploration license

JSC National Atomic Co. Kazatomprom

26 July 2024

 

AIX: KAP, KAP.Y (GDR)

LSE: KAP (GDR)

Currency: KZT (₸), unless otherwise specified

26 July 2024, Astana, Kazakhstan

Kazatomprom obtains the right for uranium exploration in the Turkestan region

National Atomic Company Kazatomprom JSC ("Kazatomprom") announces that it has obtained the subsoil use license for uranium exploration at the Vostochny block of the Zhalpak deposit (East Zhalpak block) located in the Turkestan region.

As part of the state subsoil geological survey program, Kazatomprom conducted geological studies at this block using its own funds, which resulted in the identification of P1 and P2 uranium resources. According to preliminary estimates, inferred resources amount to up to 30,000 tonnes of uranium. The feasibility of further exploration works has been confirmed, aiming to convert these resources into C2 and C1 reserve categories, which will result in updated uranium reserves data at the block.

As part of the Program on replenishment of uranium resources, Kazatomprom plans to conduct exploration works for a period of 6 years, with a subsequent registration of estimated uranium reserves to the state balance.

"We are proud that our efforts in uranium prospecting and exploration are yielding results, contributing to strengthening Kazakhstan's position as a global leader in the uranium industry, which is especially important given the growing demand in the uranium market. I am confident that further research and development will significantly increase our uranium resources, contributing to global energy security and the economic growth of our country," emphasized Meirzhan Yussupov, CEO of Kazatomprom.

Growing attention to energy security and diversification of energy generation sources has brought nuclear power into the spotlight as an indispensable alternative to fossil fuels. As a leading global producer and supplier of natural uranium, Kazatomprom plays a vital role in the global efforts to transition to green energy sources and achieve net-zero, and remains committed to maintaining this position.

For more information, please contact:

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Askar Atagulin, Director, Public Relations

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Investor Relations Inquiries

Botagoz Muldagaliyeva, Director, Investor Relations

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About Kazatomprom

Kazatomprom is the world's largest producer of uranium, with the Company's attributable production representing approximately 20% of global primary uranium production in 2023. The Group benefits from the largest reserve base in the industry and operates, through its subsidiaries, JVs and Associates, 26 deposits grouped into 14 mining assets. All of the Company's mining operations are located in Kazakhstan and extract uranium using ISR technology with a focus on maintaining industry-leading health, safety and environment standards.

Kazatomprom securities are listed on the London Stock Exchange, Astana International Exchange, and Kazakhstan Stock 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 Astana, Kazakhstan, and through its Switzerland-based trading subsidiary, Trade House KazakAtom AG (THK).

For more information, please see the Company website at www.kazatomprom.kz.

Forward-looking statements

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 REALISED, 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.

 

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