NAC Kazatomprom signs amendments to subsoil use contracts on two sections of Inkai deposit

08.08.24 09:36

/KASE, August 8, 2024/ - NAC Kazatomprom JSC (Astana), whose securities are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press release dated August 6, 2024: quote National Atomic Company Kazatomprom JSC ("Kazatomprom" or "the Company") announces it has signed amendments to subsoil use contracts with the Ministry of Energy of the Republic of Kazakhstan for two blocks at the Inkai deposit, which is located in the Suzak district of Turkestan region and is one of the major uranium deposits in Kazakhstan. The amendment to the uranium mining contract at Inkai 3 block transfers the subsoil use right to Kazatomprom-SaUran LLP, a 100%-owned subsidiary of Kazatomprom. Uranium reserves at Inkai 3 in categories C1+C2 are estimated at 83.1 thousand tonnes. "The transfer of the subsoil use right is a strategically important decision for our company aimed at supporting our subsidiary, where two uranium blocks have already been decommissioned due to the full exhaust of reserves, and one block is almost depleted. This decision will not only help to stabilise production in the long term, but also ensure the socio-economic development of the region through the preservation of jobs and an increase in tax revenues to the state budget," said Meirzhan Yussupov, CEO of Kazatomprom. unquote The complete press release is available on - https://kase.kz/files/emitters/KZAP/kzap_relizs_060824_18.pdf [2024-08-08]