Kazatomprom NAC

The main articles are:

• Uranium (market)
• Nuclear fuel

JSC "NAK Kazatomprom" is the world leader in the extraction of natural uranium and the national operator in Kazakhstan for the import and export of uranium, rare metals and nuclear fuel for nuclear power plants. JSC NWF Samruk-Kazyna is the sole shareholder of JSC NAK Kazatomprom.

Aktivs

At the beginning of 2018, the Kazatomprom group of companies includes 49 enterprises, which employ about 26 thousand people. Assets include all complexes of enterprises involved in the production chain of end products: exploration, uranium mining; production of nuclear fuel cycle products; reactor construction, nuclear power plants; production of structural materials; power; science; social security and training.

History

2024: Delays in the launch of new fields and a decrease in production forecast by 12-14%

Kazatomprom, the world's largest uranium miner, warned in January 2024 that it would likely miss planned production levels in the next two years, posing another supply risk amid rising demand for nuclear fuel. Kazatomprom reduced its production forecast for 2024 by 12-14%.

The lack of sulfuric acid and delays in the construction of new deposits pose production problems that may persist until 2025.

2023: Outflow of managers after the sale of part of the Budenovsky mine to Rosatom

The uranium deal with Russia caused an outflow of managers in the Kazakh mining giant Kazatomprom. In May 2023, the company said that executives left for personal reasons.

2022

Sale of part of Budenovsky mine to Rosatom

The deal to sell part of the Budenovsky mine, which is to become the world's largest source of radioactive metal, to the Russian atomic energy monopoly Rosatom took place at the end of 2022.

Kazakhstan delivered the first batch of nuclear fuel to China

Kazakhstan delivered the first batch of nuclear fuel to China. This was reported on December 7, 2022 in the national nuclear company of Kazakhstan "Kazatomprom." Read more here.

2017: Toshiba sale of 10% stake in Westinghouse

On December 25, 2017, it was announced that Toshiba Corporation bought 10% of the shares of its subsidiary Westinghouse Electric from the national nuclear company (NAC) of Kazakhstan Kazatomprom in accordance with the condition of the put option agreement, the press service of Kazatomprom reported.

Kazatomprom acquired Westinghouse shares in 2007 from Toshiba Corporation for $540 million. According to the terms of the put option agreement, Kazatomprom had the right to sell its shares back to Toshiba Corporation at a fixed value of $522 million.

"Today, Kazatomprom received payment for Westinghouse shares in the amount of $522 million under the previously exercised put option right," the statement said.

The press release emphasizes that taking into account the dividends received during the period of ownership of the shares in the amount of $103 million, Kazatomprom made a return of the invested funds in the total amount of $625 million, which exceeded the initial investment in Westinghouse shares by $85 million.

In March 2017, the American company Westinghouse (a subsidiary of the Japanese corporation Toshiba) filed a petition to the court to begin bankruptcy proceedings, in accordance with Article 11 of the US Bankruptcy Code, ^[1].

See also

• Nuclear Power. Facts and Myths

Notes