Kazatomprom's Uranium Power Shift: Rosatom Sells Stakes to China

Kazakhstan's Kazatomprom revealed that Russia's Rosatom is selling its shares in joint uranium projects to Chinese companies, amidst concerns over sanctions affecting Western sales. China emerges as the largest buyer of Kazakhstan's uranium, while Kazatomprom maintains its stakes. This strategic shift may influence global uranium markets.

Kazakhstan's leading uranium producer, Kazatomprom, announced on Tuesday that Russia's Rosatom has begun divesting its ownership of uranium reserves, transferring stakes to Chinese entities.

Kazatomprom, holding the world's largest uranium reserve base, highlighted that Rosatom's withdrawal involves key deposits, affecting the company's capacity to sell uranium to the West due to complex sanction scenarios.

This development underscores China's emerging role as Kazakhstan's primary uranium purchaser, while Rosatom retains positions in other significant Kazakh deposits. The move is poised to impact the global uranium supply chain significantly.

(With inputs from agencies.)