China Gains Foothold in Kazakh Uranium Mining as Russia’s Rosatom Sells Stakes

6 days ago 2

Russia's nuclear giant Rosatom is selling stakes in its uranium mining operations in Kazakhstan to Chinese companies, the main Kazakh uranium company said Tuesday, underscoring Beijing's growing influence in Central Asia.

"Kazatomprom announces the exit of its Russian partner from some joint ventures," read a statement from the world's largest uranium mining company, which extracts the crucial metal at 26 sites across Kazakhstan.

The statement said Uranium One Group, part of Rosatom, sold 49.99% of its shares in Kazakhstan to Astana Mining Company, whose parent company is China's State Nuclear Uranium Resources Development. Kazatomprom maintains its 49.99% stake in the venture.

In addition, Uranium One Group "is expected" to sell 30% of Khorasan-U and Kyzylkum LLP to China Uranium Development Company, whose ultimate owner is China General Nuclear Power Corporation.

Kazakhstan is the world's leading producer of uranium, accounting for 43% or 21,227 tons in 2022, according to the latest figures from the World Nuclear Association.

Kazatomprom also said Tuesday that it "has launched a large-scale exploration program" to find new deposits and that it has received licenses to explore four sites that are estimated to have total reserves of more than 180,000 tons of uranium.

While rich in uranium, Kazakhstan lacks the power generation infrastructure to use the metal. However, it plans to construct a nuclear plant near Lake Balkhash in the south of the country, with Chinese, Russian, French and South Korean companies lining up to bid on the project.

A Message from The Moscow Times:

Dear readers,

We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."

These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.

We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.

By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.

Continue

paiment methods