• KGS/USD = 0.01126 0%
  • KZT/USD = 0.00225 0%
  • TJS/USD = 0.09196 0.77%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01126 0%
  • KZT/USD = 0.00225 0%
  • TJS/USD = 0.09196 0.77%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01126 0%
  • KZT/USD = 0.00225 0%
  • TJS/USD = 0.09196 0.77%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01126 0%
  • KZT/USD = 0.00225 0%
  • TJS/USD = 0.09196 0.77%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01126 0%
  • KZT/USD = 0.00225 0%
  • TJS/USD = 0.09196 0.77%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01126 0%
  • KZT/USD = 0.00225 0%
  • TJS/USD = 0.09196 0.77%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01126 0%
  • KZT/USD = 0.00225 0%
  • TJS/USD = 0.09196 0.77%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01126 0%
  • KZT/USD = 0.00225 0%
  • TJS/USD = 0.09196 0.77%
  • UZS/USD = 0.00008 0%

Viewing results 1 - 6 of 24

Second shipment of low enriched uranium completes IAEA LEU Bank in Kazakhstan

UST-KAMENOGORSK, Kazakhstan (TCA) — The International Atomic Energy Agency (IAEA) on December 10 said it has received the second and final shipment of low-enriched uranium (LEU) at a purpose-built facility in Kazakhstan housing the IAEA LEU Bank, which was established to provide assurance to countries about the supply of nuclear fuel. The delivery completes the planned stock of the material that the IAEA LEU Bank will hold, following the first shipment in October. Continue reading

IAEA LEU Bank in Kazakhstan becomes operational with delivery of low enriched uranium

NUR-SULTAN (TCA) — The International Atomic Energy Agency (IAEA) said it took delivery of a shipment of low enriched uranium (LEU) at a purpose-built facility in Kazakhstan on October 17, officially establishing the IAEA LEU Bank aimed at providing assurance to countries about the availability of nuclear fuel. Continue reading

Kazakhstan’s atomic company places securities on London Stock Exchange

ASTANA (TCA) — Kazakhstan’s national atomic company Kazatomprom has become the first national company to float successfully in the international stock exchange. The National Company has successfully placed 15% of its shares for US$ 451 million on the London Stock Exchange. The demand has exceeded the supply 1.7-fold, Kazakhstan’s Sovereign Wealth Fund Samruk-Kazyna Joint Stock Company, which holds state-owned stakes in the country’s largest companies, said on November 13. The number of shares / GDR placed amounts to 38 903 491 items or 15% of Kazatomprom shares. Kazakhstani investors acquired 47.5% of the shares of the total number of the securities placed. The volume of the shares placed is estimated at US$451 million. “Despite the volatility to be observed on the global stock markets since early October, we have performed our task and entered the IPO, as we consider it to be a long-term growth prospect. Kazatomprom is the first quasi-state company to enter the international IPO both on the London Stock Exchange (LSE) and the AIFC (AIX). The status of a public company will make Kazatomprom to become more transparent and understandable for investors,” said Akhmetzhan Yessimov, CEO of Samruk-Kazyna JSC, at the meeting of the Management Board of Samruk-Kazyna JSC on November 13. The IPO of Kazatomprom is the first key element of the state property privatization program approved by the Kazakhstan Government in 2016. The program is implemented within the framework of the task set by the President of Kazakhstan Nursultan Nazarbayev to reduce the state’s share in the national economy to 15% of GDP according to the OECD recommendations.

Kazatomprom IPO to test-drive Kazakhstan’s privatization plan

ASTANA (TCA) — The government of Kazakhstan is planning to privatize state-owned stakes in a number of major companies, including the national uranium company. We are republishing this article on the issue, written by George Voloshin: Kazakhstan’s national uranium company Kazatomprom said, on October 15, that it was ready to go public by selling a portion of its issued shares on the London Stock Exchange and on the trading platform of the Astana International Financial Center (AIFC). The AIFC was officially launched without much fanfare in January 2018. It was later inaugurated by Kazakhstani President Nursultan Nazarbayev on the eve of his birthday and the 20th anniversary of the founding of his country’s current capital, Astana, both of which fall on July 6. The Astana International Exchange has a few registered members but no shares are currently traded, with all trading in equity and bonds taking place on the Almaty-based Kazakhstan Stock Exchange, instead. In 2015, Nazarbayev signed into law a special piece of legislation granting AIFC residents long-term tax breaks, hassle-free work permits and other perks. The brand-new financial center has a court of arbitration and a court of appeal, each staffed with Western-born judges and using English common law in what is the first extraterritorial application of foreign laws in Kazakhstan (Kursiv.kz, October 15; Mir24.tv, July 5; Sputniknews.kz, January 1). If Kazatomprom becomes a public company, it will be only the second major uranium miner in the world, after Canada’s Cameco, to obtain such a status. Kazakhstan’s sovereign wealth fund Samruk Kazyna, whose assets account for about 60 percent of national GDP, intends to dispose of up to a quarter of all shares outstanding (issued shares minus those held in treasury). Regardless of how many shares are eventually subscribed, it will remain the majority shareholder and will continue to exert effective control over company operations. According to further announcements made on October 31, Kazatomprom’s management values the whole company at between $3 billion and $4 billion. Initially, it plans to sell not more than 15 percent of the shares offered under the IPO to outside investors, including at least one fifth within the AIFC. The trading of global depository receipts (GDR) in London should commence on November 13, to be followed by the start of trading in GDRs and common stock in Kazakhstan several days later (Kazatomprom.kz, Informburo.kz, October 31; Kapital.kz, October 24). The global uranium sector is a highly concentrated industry, and Kazatomprom just happens to be the world’s largest producer of uranium, a strategic metal used for both civilian and military purposes. Last year, its output from wholly and jointly owned enterprises reached 12,100 tons, equivalent to 20 percent of the world total. Unlike most other producers that rely on good relations with foreign governments for continued access to their reserves, Kazatomprom has its entire resource base of approximately 300,000 tons located in Kazakhstan alone. In 2017, it had total sales of $907 million, down from $1.1 billion the year before, although its net profit rose...

Uzbekistan and Russia reach agreement on construction of new nuclear power plant

TASHKENT (TCA) — Uzbekistan, which is heavily dependent on fossil fuel in electricity generation, plans to build its first nuclear power plant to solve its power deficit problems. We are republishing this article on the issue, written by Fozil Mashrab, originally published by The Jamestown Foundation’s Eurasia Daily Monitor: A series of meetings since late December 2017 between officials from Uzbekistan and ROSATOM, the Russian state nuclear energy corporation, suggests that both sides have reached an agreement to build a two-reactor nuclear power plant (NPP) in this Central Asian republic. According to Bakhrom Ashrafkhanov, Uzbekistan’s ambassador to Russia, “[T]he nuclear power plant will definitely be constructed,” and the two sides are working on a road map. It is expected the final deal will be signed this autumn in Tashkent, during President Vladimir Putin’s visit to Uzbekistan (Uzdaily.uz, June 22). Media outlets suggest that the idea to build an NPP, most likely to be located in the southwestern uranium-mining province of Navoi, came from Uzbekistani authorities. According to the reports, ROSATOM, a global leader in its industry, readily agreed. Plans to build an NPP in Uzbekistan have existed for many years, but were given a final decisive push by President Shavkat Mirziyaev (Interfax, May 30). The timing is particularly promising—the NPP plan coincides with other bold, wide-ranging reforms meant to rejuvenate the country after years of general economic and political stagnation as well as neglect of the energy sector in particular. However, there are also concerns Uzbekistan’s government or the heavily indebted ROSATOM might require years to raise the necessary funds, particularly given ROSATOM’s existing commitments to build 42 nuclear reactors in 12 countries around the world (RIA Novosti, December 1, 2017). Uzbekistan’s former president, the late Islam Karimov, also realized the need for constructing an NPP since the country’s fossil fuel–based energy sector is not sustainable in the long term. Proven oil and natural gas reserves are projected to last, at current rates of consumption, for the next 30–35 years; and approximately 86 percent of Uzbekistan’s electricity is generated by thermal power plants running on gas. Nevertheless, due to environmental concerns, high costs, the region’s seismic peculiarities, and, perhaps, Karimov’s inherently cautious and slow-moving approach, Uzbekistan’s nuclear aspirations were put on hold during his rule (Odnako.ru, August 30, 2014). The late president’s so-called “gradualist approach” became a euphemism among his critics for not taking necessary measures to tackle critical, worsening power shortages. The entire country, with the partial exception of the capital, Tashkent, chronically suffers from acute electricity shortages, especially in winter. Millions of Uzbekistani families struggle to survive the winter season, spending large parts of their already meager incomes to buy traditional sources of energy such as coal and firewood or mini electricity generators that run on gasoline. Similarly, power shortages force owners of many small- and medium-sized businesses in the provinces to scale down their operations or send workers on unpaid leave during the winter months (Ozodlik Radiosi, May 12, 2014). If constructed, the envisaged NPP will add...

Uzbekistan and Russia sign nuclear cooperation agreement

TASHKENT (TCA) — Russia's Rosatom State Atomic Energy Corporation and the Government of Uzbekistan have signed a nuclear cooperation agreement. Rosatom said the agreement was signed by the company’s Director General Alexey Likhachev and Uzbek Deputy Prime Minister Nodir Otazhonov on December 29. “The agreement paves the way for bilateral cooperation between Russia and Uzbekistan in many aspects of civil nuclear energy. The collaboration could include creation and development of infrastructure in Uzbekistan, training, construction of nuclear power plants and research reactors, as well as operational and maintenance support during their life cycle,” Rosatom said in a statement. The Russian company also said the agreement could also cover “exploration and mining of uranium, handling of uranium waste and the production of radioisotopes for use in medicine, agriculture and academic research.” Likhachev said that Rosatom was ready to build a two-unit nuclear power plant in Uzbekistan and has offered to start training Uzbek nuclear experts-to-be at Moscow's expense beginning in September 2018, RFE/RL reported. In early November, during a visit to Tashkent by Russian Prime Minister Dmitry Medvedev, a memorandum on cooperation between Rosatom and Uzbekistan's Academy of Science was signed, along with an agreement on production and provision of nuclear fuel by Uzbekistan for Rosatom.

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