Kazatomprom to resubmit Uranium One supply deal for shareholder approval

Photo: Kazatomprom

BAKU, Azerbaijan, October 23. Kazatomprom will convene an Extraordinary General Meeting of Shareholders (EGM) in absentia to reconsider a major interested-party transaction regarding the supply of natural uranium concentrates (U3O8) to Uranium One Group JSC, according to the company.

The initiator of the EGM is Kazatomprom's Board of Directors. The list of shareholders entitled to participate in the meeting will be drawn up as of November 17, 2026. The period for submitting absentee voting ballots will run from November 25, 2026, until 18:00 (Astana time) on December 9, 2026, with the votes scheduled to be counted by 18:00 on December 10, 2026.

The item on the agenda covers the execution of a major transaction involving Kazatomprom's interest — a contract for the physical supply of natural uranium concentrate in the form of U3O8 to Uranium One Group JSC.

Kazatomprom previously reached an agreement with Uranium One for the sale of natural uranium concentrates via physical delivery. Uranium One accepted the company's commercial offer during its validity period, after which the parties mutually agreed on the draft contract.

The transaction was previously submitted for shareholder approval at an earlier EGM (minutes No. 5 dated October 7, 2026). However, a decision was not adopted at that time, as holders of 88.34% of the voting shares abstained from voting.

The company initiated a re-examination of the deal following technical amendments. Kazatomprom emphasized that the proposed edits do not affect the material conditions of the deal, leaving commercial and other key parameters unchanged and in line with prevailing market conditions.

Pursuant to Kazakh legislation, information materials regarding the agenda items will be accessible to shareholders no later than 10 calendar days before the EGM at the company's registered headquarters in Astana.

Kazatomprom is the world's largest producer of uranium, with the company's attributable production representing approximately 20% of total global primary uranium output in 2025. The group possesses the largest uranium resource base in the industry. Kazatomprom, together with its subsidiaries, affiliates, and joint ventures, is developing 27 deposits organized into 14 uranium mining assets. All uranium mining operations are located in the Republic of Kazakhstan and utilize the in-situ recovery (ISR) technology, placing a strong emphasis on leading health, safety, and environmental (HSE) practices.