REG - JSC NAC Kazatomprom - KAP Obtains a New SSU Agreement at Inkai 3

Westwater ResourcesAnnouncement

12/06/2024 08:15

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RNS Number : 1135S  JSC National Atomic Co. Kazatomprom  12 June 2024

AIX: KAP, KAP.Y (GDR)

LSE: KAP (GDR)

Currency: KZT (₸), unless otherwise noted

 

12 June 2024, Astana, Kazakhstan
Kazatomprom Obtains a New Subsoil Use Agreement for Uranium Mining at Inkai 3 Deposit

National Atomic Company "Kazatomprom" JSC announces it has signed a new
subsoil use agreement for pilot production at Inkai 3 deposit. This strategic
milestone was achieved in June 2024 as a result of direct negotiations with
the Ministry of Energy of the Republic of Kazakhstan. Pilot production is
approved for up to four years with the total volume of 701 tU for the entire
period of pilot production.

Inkai deposit, one of the key uranium deposits in Kazakhstan, is located in
the Suzak district of Turkestan region. Uranium resources at Inkai 3 deposit
amount to 83.1 ktU.

"This licence is important to our sustainable development strategy. Launch of
pilot production at Inkai 3 will contribute to social and economic development
of the Turkestan region. Replenishment of the mineral resource base will
further bolster our position as a uranium industry leader and help us to meet
the rising demand for clean energy", - said Meirzhan Yussupov, CEO of
Kazatomprom.

The Company expects to transfer the Inkai 3 subsoil use contract to
Kazatomprom-Sauran LLP, a 100%-owned subsidiary of Kazatomprom.

 

For more information, please contact:

Public Relations and Media Inquiries

Askar Atagulin, Director, Public Relations

Tel: +7 7172 45 80 63

Email: pr@kazatomprom.kz (mailto:pr@kazatomprom.kz)

Investor Relations Inquiries

Botagoz Muldagaliyeva, Director, Investor Relations

Tel: +7 7172 45 81 80 / 69

Email: ir@kazatomprom.kz (mailto:ir@kazatomprom.kz)

A copy of this announcement is available at www.kazatomprom.kz
(https://www.kazatomprom.kz) .

About Kazatomprom

Kazatomprom is the world's largest producer of uranium, with the Company's
attributable production representing approximately 20% of global primary
uranium production in 2023. The Group benefits from the largest reserve base
in the industry and operates, through its subsidiaries, JVs and Associates, 26
deposits grouped into 14 mining assets. All of the Company's mining operations
are located in Kazakhstan and extract uranium using ISR technology with a
focus on maintaining industry-leading health, safety and environment
standards.

Kazatomprom securities are listed on the London Stock Exchange, Astana
International Exchange, and Kazakhstan Stock Exchange. As the national atomic
company in the Republic of Kazakhstan, the Group's primary customers are
operators of nuclear generation capacity, and the principal export markets for
the Group's products are China, South and Eastern Asia, Europe and North
America. The Group sells uranium and uranium products under long-term
contracts, short-term contracts, as well as in the spot market, directly from
its headquarters in Astana, Kazakhstan, and through its Switzerland-based
trading subsidiary, Trade House KazakAtom AG (THK).

For more information, please see the Company website at www.kazatomprom.kz
(https://www.kazatomprom.kz) .

Forward-looking statements

All statements other than statements of historical fact included in this
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