ASTANA, Kazakhstan, December 4. Kazatomprom (Kazakhstan's national nuclear company) will deliver natural uranium concentrate to the UAE's Barakah nuclear power station to meet its energy needs., Trend reports.
On December 2, in Dubai, an agreement was struck between Kazatomprom and the UAE energy company Emirates Nuclear Energy Corporation (ENEC).
According to Mohamed Al Hammadi, Managing Director and CEO of ENEC, signing a contract with Kazatomprom, the world's largest uranium producer, is strategically significant for ENEC in terms of increasing diversification and maintaining nuclear fuel supply security.
In turn, Kazatomprom Chairman of the Board Meirzhan Yusupov stated that the signing of this deal with a significant UAE energy firm will provide a new push for collaboration between nuclear companies in both nations, as well as open a new country in Kazatomprom's sales geography.
The volumes and commercial details of the arrangement were not disclosed by Kazatomprom, citing information confidentiality.
Kazakhstan's Kazatomprom revealed their 2025 uranium production strategy on September 29, 2023. Kazatomprom's Board of Directors authorized the company's goal to expand uranium production volumes to 100 percent of the amount projected under subsurface usage contracts by 2025.
Kazakhstan ranks second in the world in terms of proven natural uranium reserves. The depths of the Republic of Kazakhstan contain around 14 percent of all proven world reserves. The entire proven reserves of uranium in the country are expected to be more than 700,000 tons.
Kazakhstan surpassed the United States in uranium production in 2009 and continues to dominate the global market.
Kazakhstan accounts for almost 40 percent of global uranium output. The volume of uranium production in 2021 was 21,800 tons, while the volume in 2022 was 21,300 tons.