Russia Uranium Deal Caused Manager Exodus at Kazakh Mining Giant
- Russia’s nuclear monopoly acquired stake in new uranium mine
- Kazatomprom said executives left for personal reasons
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The sale of a stake in a massive new uranium mine to Russia prompted an exodus of senior managers at Kazakhstan’s state-run miner.
The deal for part of the Budenovskoye mine, projected to become the world’s biggest source of the radioactive metal, to Russia’s nuclear power monopoly, Rosatom, went through at the end of last year, according to people familiar with the matter. The deal was pushed by Kazakhstan’s sovereign wealth fund against the wishes of the leadership at miner Kazatomprom, the people said, asking not to be identified discussing a sensitive matter.