Oil, Gas and Consumable Fuels
Company Overview of JSC National Atomic Company Kazatomprom
JSC National Atomic Company Kazatomprom produces and sells uranium and uranium products. It also manufactures and sells beryllium and tantalum products; produces, transfers, and sells electric and heat energy; produces and sells potable, technical, and distilled water; transports sea water and gas; constructs and manages social service facilities in subsurface use areas; provides communication and security services; and produces semiconductor materials. In addition, the company offers research, project, development, and engineering consulting services; explores for, extracts, and processes molybdenum-copper ores; produces vertical wind power stations for complex renewable power supply system...
10 D.Kunaev Street
Founded in 1997
Key Executives for JSC National Atomic Company Kazatomprom
Chief Executive Officer and Director
Chairman of Management Board and President
Deputy Chairman of The Management Board and Vice President for Production
Head of Administration Office, Managing Director and Member of The Management Board
Compensation as of Fiscal Year 2016.
JSC National Atomic Company Kazatomprom Key Developments
Kazatomprom to Build Fuel Fabrication Plant to Supply China
Sep 7 16
Kazatomprom said on 2 September 2016 that a plant to manufacture fuel assemblies for Chinese NPPs would be commissioned in 2019. In December 2015 Kazatomprom and China Guangdong Nuclear Power Corporation (CGNPC) signed an agreement on the commercial terms of design and construction of a fuel assembly plant in Kazakhstan to supply fuel to Chinese NPPs. The plant, with a capacity of 200t of fuel assemblies a year will be established at Kazatomprom’s Ulba Metallurgical Plant (UMZ).
Kazakhstan Plans To Sell Stake In SOEs
Aug 17 16
Kazakhstan is planning to sell off stakes in core State Owned Enterprises (SOE). Baljeet Kaur Grewal, Managing Director of strategy and portfolio investments at Kazakh sovereign wealth fund Samruk-Kazyna, said, “We haven't gone into the valuation of the companies at the moment. At the moment, we are enhancing value, like putting everyone on (enterprise software) SAP.” Kazakhstan's ambitious privatisation drive will lead to stake sales in more than 200 companies. Notably, seven SOEs will be up for grabs, they are- joint Stock Company National Company KazMunayGas, Joint Stock Company National Company Kazakhstan Temir Zholy, JSC National Atomic Company Kazatomprom, Kazpost JSC, National Mining Company Tau-Ken Samruk JSC, Samruk-Energy Joint Stock Company, Air Astana JSC. Except for Air Astana, where plans are under discussion, Samruk-Kazyna plans to sell up to 25% of each firm. The companies will be floated on a stock exchange within the Astana International Financial Centre, a special economic zone that is being set up in the country's capital. Legal frameworks are still at a nascent stage. The aim of divesting is not entirely for financial gain, but to boost the economy, allow reinvestment, stimulate competition and invite scrutiny.
Cameco Corporation Signs Agreement with Joint Stock Company National Atomic Company Kazatomprom to Restructure JV Inkai
May 27 16
Cameco Corporation signed an agreement with Joint Stock Company National Atomic Company Kazatomprom (Kazatomprom) and Joint Venture Inkai LLP (JV Inkai) to restructure and enhance JV Inkai. The Inkai operation is an in situ recovery uranium mine in south Kazakhstan that is owned and operated by JV Inkai which, in turn, is currently owned by Cameco (60%) and Kazatomprom (40%). Cameco's current interest in production from JV Inkai is 57.5% based on previous agreements with Kazatomprom. The new agreement replaces the memorandum of agreement signed by Cameco and Kazatomprom in September 2012 and, subject to closing, provides as follows: JV Inkai will have the right to produce 4,000 tonnes of uranium (tU) (10.4 million pounds of U3O8) per year (Cameco's share 4.2 million pounds), an increase from the current 5.2 million pounds (Cameco's share 3.0 million pounds). JV Inkai will have the right to produce from blocks 1, 2 and 3 until 2045 (currently, the lease terms are to 2024 for block 1 and to 2030 for blocks 2 and 3). Subject to further adjustments tied to the refinery as described below, Cameco's ownership interest in JV Inkai will be adjusted to 40%, and Kazatomprom's ownership interest in JV Inkai will be adjusted to 60%; a governance framework that provides protection for Cameco as a minority owner; the current boundaries of blocks 1, 2 and 3 will be adjusted to match the agreed production profile for JV Inkai to 2045 This agreement is subject to obtaining all required government approvals, including certain amendments to JV Inkai's existing Resource Use Contract, which is expected to take 18 to 24 months. The government approvals are conditional upon submission of certain technical reports and other documents. The agreement provides for annual production at the Inkai operation to be ramped up to 10.4 million pounds U(3) O(8) over three years following receipt of required approvals.Cameco and Kazatomprom will complete a feasibility study for the purpose of evaluating the design, construction and operation of a uranium refinery in Kazakhstan with the capacity to produce 6,000 tU annually as uranium trioxide (UO(3)). The agreement includes provisions that would make Cameco's proprietary uranium refining technology available to Kazatomprom on a royalty-free basis, and grants Kazatomprom a five-year option to license Cameco's proprietary uranium conversion technology for purposes of constructing and operating a UF(6) conversion facility in Kazakhstan. If Cameco and Kazatomprom decide to build the refinery, the agreement also provides that: Cameco's and Kazatomprom's respective ownership interests in the limited liability partnership that will own the refinery, will be 71.67% for Kazatomprom and 28.33% for Cameco. Kazatomprom will have the option to obtain UF6 conversion services at Cameco'sPort Hope facility for a period of 10 years and receive other commercial support. Cameco's ownership interest in JV Inkai is increased to 42.5% upon commissioning of the refinery. Depending on the level of commercial support Cameco provides, Cameco's interest in JV Inkai may be increased to 44% and its ownership stake in the refinery would also be adjusted from 28.33% to 29.33%.
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