Rosatom denies sale of uranium assets in Kazakhstan to China National Nuclear Corporation

The Ministry of Energy of Kazakhstan has responded to inquiries regarding a possible sale of Rosatom’s uranium assets in Kazakhstan to China’s China National Nuclear Corporation (CNNC) and Kazatomprom, stating that it has not received any applications for the sale of interests in subsidiaries of Rosatom. The ministry explained that the alienation of strategic objects in Kazakhstan is only possible with the approval of the government and in accordance with legislative procedures. The press service of the Kazakh representative office of Rosatom declined to comment on the matter, citing confidentiality. Similarly, Kazatomprom did not comment but stated that it maintains transparency with regard to any changes and acts in accordance with its disclosure policy. Uranium One, a subsidiary of Rosatom, currently has stakes in several uranium joint ventures in Kazakhstan. In February, the Kazakh government allowed Uranium One Group to acquire a 50% stake in Karatau LLP, a 30% stake in JV Khorasan-U LLP, and a 70% stake in JV Southern Mining and Chemical Company LLP, without any changes to the beneficiaries of the shares.