The Russian state-owned nuclear company Rosatom is selling its stakes in some uranium deposits it is developing in Kazakhstan to Chinese-owned companies, according to Kazakhstan's nuclear resources company Kazatomprom. Rosatom used to have stakes in 6 of 14 Kazatomprom's deposits, receiving a share of the output in a deal that complicated the Kazakh firm's sales to the West.
Uranium One Group, a Rosatom unit, had sold its 49.98% stake in the Zarechnoye mine to SNURDC Astana Mining Company Limited, which is part of China's State Nuclear Uranium Resources Development Company. Uranium One Group is also expected to give up 30% in the Khorasan-U joint venture to China Uranium Development Company (part of China General Nuclear Power Corporation). Kazatomprom, the world's largest producer of uranium, said its stakes will remain unchanged.
Rosatom’s Uranium One Group produced 4,831 tonnes of uranium in Kazakhstan in 2023.