Kazatomprom will explore a new deposit of rare metals

NAC Kazatomprom JSC announces that its subsidiary, Ulba Metallurgical Plant JSC (“UMP”), has received a license for exploration of solid minerals at the Karadzhal deposit in the Abay region.

The project will allow Kazatomprom to rely on its own mineral resource base for the existing rare metals production, increase economic efficiency, and expand the geography of its presence. Aiming to assess and confirm the reserves of rare metals (tantalum, niobium, beryllium), the Company will conduct geological exploration at the site.

“Rare and rare earth metals and their compounds play a critical role in a wide range of economic sectors, from aviation and space technology to medicine and electronics.  These metals are critical materials that define the modern world. We are proud to announce that Kazatomprom continues its strategic development in this direction. The discovery and development of new deposits will strengthen our position in the global market and contribute to the creation of new jobs. In 2023, UMP has obtained a license for exploration of solid minerals at the Verkhny Irgiz deposit in the Aktobe region,” said Kuanysh Omarbekov, Kazatomprom’s Chief Operating Officer.

UMP is the unique company and one of the largest in the world with a full production cycle from processing tantalum, niobium and beryllium to the production of high-quality finished products. Today, the plant ranks 2nd in the world for the production of beryllium products, and 4th for the production of tantalum products.

This activity is carried out as part of Kazatomprom’s scientific and technological development program for 2022-2029 in the field of RM and REM, aimed at creating new product types, improving technologies of extraction valuable components at enterprises, and organizing R&D clusters.

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

Investor Relations Inquiries

Botagoz Muldagaliyeva, Director, Investor Relations

Tel: +7 7172 45 81 80 / 69

Email: ir@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.

Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Endowment Lock journalist was involved in the writing and production of this article.

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