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Energy

Kazatomprom calls a second shareholder vote on supplying uranium to Rosatom’s Uranium One

Kazatomprom’s board will put the natural uranium supply contract with Uranium One, a Rosatom subsidiary, to shareholders again after a first vote went against it, with absentee voting from 25 November to 9 December. In Tashkent, Rosatom’s director general Alexei Likhachev said the company fears no competition for Uzbekistan’s next reactors and will offer its services.

A heavy slate blue steel cask with a bolted lid stands on a pallet in an empty warehouse bay, an amber seal tag hanging from one bolt.

Kazatomprom initiated a repeat consideration of the deal with what it called certain technical amendments, the national company said in a statement quoted by Kapital.kz on 23 October. “The proposed changes do not affect the material terms of the deal. The commercial and other terms of the deal remain unchanged,” the company said. Absentee voting opens on 25 November and closes on 9 December.

Kazatomprom announced contracts to supply natural uranium to China’s SNURDC and to Russia’s Uranium One Group in August 2026, without disclosing prices, volumes or delivery dates. In October it emerged that shareholders had voted down the contract with Uranium One for uranium in the form of U3O8 at the first vote.

“The proposed changes do not affect the material terms of the deal. The commercial and other terms of the deal remain unchanged,” the company said.

In Tashkent, Likhachev told journalists on 23 October that Uzbekistan would not stop at the four units of its first nuclear plant in Jizzakh region, and that the choice of partners for new projects rests with the Uzbek side, Spot reported. “We are in no way afraid of competition. But, on the other hand, of course, we will also be offering our services,” he said.

He said the first contracts with specialists to operate the small nuclear plant are planned for 2027, when personal licensing of operators also begins. Uzbekistan’s president announced preparations for a second plant on 17 August without naming a partner, and Serbia’s president Aleksandar Vučić said in September that Shavkat Mirziyoyev had told him the second station is planned with China, Spot recalled.