Kazatomprom intends to supply large batch of uranium concentrate to India

ASTANA. Feb 20 (Interfax) - Kazakhstan's national nuclear company Kazatomprom intends to sell a large batch of uranium concentrate to India, the company said.

The transaction will be discussed at an extraordinary general meeting of shareholders, Kazatomprom said in its announcement about the upcoming meeting. The date has not yet been specified.

"Kazatomprom and the Directorate of Purchase & Stores of the Department of Atomic Energy of the Government of India (DPS) have reached an agreement on the sale of natural uranium concentrates in the form of U3O8 to DPS through physical delivery to India," it said.

The value of the planned transaction exceeds 50% of the total book value of the company's assets; therefore, in accordance with the requirements of current legislation, this transaction is submitted for consideration by the general meeting of shareholders.

"Details of the transaction being concluded regarding pricing, amounts and delivery schedules are not subject to disclosure due to the confidentiality of the relevant information and the presence of trade secrets according to the company's internal regulations. The DPS also insists on maintaining maximum confidentiality of information about the terms of the transaction being concluded," it said.

Kazatomprom is engaged in uranium mining, the processing of rare metals and the production and sale of beryllium and tantalum products, with 100% of the company's products exported. The company is controlled by the state, with the Samruk-Kazyna state fund holding 62.99% of shares and the Kazakh Finance Ministry owning 12.01%), with a free float of 25%.

Kazatomprom increased uranium production 11% in 2025 to 25,840 tonnes. In 2026, the company plans to produce 27,500-29,000 tonnes of uranium.