Kazatomprom, the National Atomic Company of Kazakhstan, has announced that it has secured a subsoil use license for uranium exploration at the Inkai-Mynkuduk block. Located on the northern flank of the Inkai deposit in the Shu-Sarysu uranium province, Suzak district of Turkestan region, the license grants Kazatomprom exclusive rights for exploration for six years, with the possibility of a five-year extension.
Meirzhan Yussupov, CEO of Kazatomprom, highlighted that the exploration of the Inkai-Mynkuduk block aligns with the company's updated strategy for expanding and efficiently utilizing its mineral resource base, thereby supporting sustainable growth.
"We are proud that our efforts in prospecting and exploration of uranium deposits are delivering visible results which strengthen our leadership position in the global uranium market," he said.
Preliminary data suggests that inferred uranium resources in the P1 and P2 categories at the block exceed 20,000 tonnes. The company intends to convert these resources into C1 and C2 categories, thereby optimizing the block’s potential and contributing to its long-term strategic objectives.
As the world turns its focus toward environmental sustainability and energy security, nuclear energy is playing a pivotal role in the global transition to clean energy. Kazatomprom is committed to advancing this transition, reinforcing its standing as a global leader in the nuclear industry.
Kazatomprom is the largest producer of uranium globally, accounting for around 20% of the world’s primary uranium production in 2023. With the largest reserve base in the industry, Kazatomprom operates 27 uranium deposits across 14 mining assets in Kazakhstan, employing in-situ recovery (ISR) technology. The company’s operations adhere to industry-leading health, safety, and environmental standards, certified by ISO 45001 and ISO 14001.
Kazatomprom is listed on the London Stock Exchange and the Astana International Exchange. The company serves operators of nuclear power plants, with its primary export markets spanning China, South and Eastern Asia, Europe, and North America. Through its subsidiary, Trade House KazakAtom AG, based in Switzerland, Kazatomprom sells uranium and related products under long-term, short-term, and spot contracts.
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