INSUBCONTINENT EXCLUSIVE:
Russia's nuclear giant Rosatom is selling stakes in its uranium mining operations in Kazakhstan to Chinese companies, the main Kazakh
uranium company said Tuesday, underscoring Beijing's growing influence in Central Asia."Kazatomprom announces the exit of its Russian
partner from some joint ventures," read a statement from the world's largest uranium mining company, which extracts the crucial metal at 26
sites across Kazakhstan.The statement said Uranium One Group, part of Rosatom, sold 49.99% of its shares in Kazakhstan to Astana Mining
Company, whose parent company is China's State Nuclear Uranium Resources Development
Kazatomprom maintains its 49.99% stake in the venture.In addition, Uranium One Group "is expected" to sell 30% of Khorasan-U and Kyzylkum
LLP to China Uranium Development Company, whose ultimate owner is China General Nuclear Power Corporation.Kazakhstan is the world's leading
producer of uranium, accounting for 43% or 21,227 tons in 2022, according to the latest figures from the World Nuclear
Association.Kazatomprom also said Tuesday that it "has launched a large-scale exploration program" to find new deposits and that it has
received licenses to explore four sites that are estimated to have total reserves of more than 180,000 tons of uranium.While rich in
uranium, Kazakhstan lacks the power generation infrastructure to use the metal
However, it plans to construct a nuclear plant near Lake Balkhash in the south of the country, with Chinese, Russian, French and South
Korean companies lining up to bid on the project.
