Kazatomprom to establish JV for uranium deposit development in Jordan - head of Samruk-Kazyna fund

ASTANA. Aug 27 (Interfax) - Kazakhstan and Jordan intend to create a joint venture for developing uranium deposits in Jordan, the chairman of the board of Kazakhstan's Samruk-Kazyna state fund Nurlan Zhakupov said.

"The Samruk-Kazyna group of companies is working on the joint development of uranium deposits in Jordan. Today, during the visit of King Abdullah II of Jordan, an agreement will be signed between our subsidiary Kazatomprom and the national Jordanian uranium company on cooperation. This is a legally binding document, according to which the establishment of a joint venture is planned by the end of 2026," Zhakupov told journalists on Wednesday.

At the same time, scientific research and pilot industrial work will be conducted until the end of 2026 to assess the extractability and enrichment potential of uranium in Jordan, he said.

"In case of positive results, a joint venture will be established by the end of 2026, with 70% owned by Kazatomprom and 30% by the Jordanian company," he said.

Kazatomprom is engaged in uranium mining, the processing of rare metals, and the production and sale of beryllium and tantalum products. All (100%) of the products are exported. The company is state-controlled, with the state fund Samruk-Kazyna owning 62.99% of shares and the Kazakh Finance Ministry owning 12.01%.