Kazatomprom receives exploration rights for new uranium block at Budenovskoye deposit
ASTANA. Sept 10 (Interfax) - Kazatomprom has obtained a six-year license for uranium exploration at Block 5 of the Budenovskoye deposit, located in the Suzak district of Turkestan region, for a period of six years, Kazakhstan's national nuclear corporation said in a press release.
Block 5, located in the northeast of the southern flank of the deposit, has significant potential for further development. The uranium resources at this site are estimated at more than 18,000 tonnes, and indicate significant prospects for detailed exploration.
"The presence of significant uranium resources, favorable geological conditions and developed infrastructure create unique opportunities for long-term operation," said Meirzhan Yusupov, CEO of Kazatomprom.
Following exploration, the resources and reserves data will be updated, and a significant increase in the identified resources may be possible. The ores of the southern part of the deposit are characterized by relatively higher grade, Kazatomprom said.
The Budenovskoye deposit is part of the Mynkuduk ore district in the Kentse-Budennovskoye metallogenic zone and is connected to Inkai deposit's south side.
"Kazatomprom will continue to actively work on exploration," the company said.
Rosatom, through its subsidiaries Logistical Center YTC and Uranium One Group, acquired a stake in the Steppnogorsk Mining and Chemical Combine, which holds a 49% share in the Budenovskoye JV, in June 2023. Kazatomprom owns the remaining 51%.
The Budenovskoye joint venture began pilot uranium mining at blocks 6 and 7 of the Budenovskoye deposit last year. The mining and sales rights for these areas were granted under a 25-year agreement signed on October 16, 2020.
Kazatomprom said in an operating report for January-June 2024, that all production from the Budenovskoye joint venture will be allocated to the Russian nuclear industry until 2027.
Kazatomprom, the national operator of Kazakhstan's uranium exports, rare metals, nuclear fuel, and specialized equipment, is managed by Samruk-Kazyna National Welfare Fund.
