Russia Sells Zarechnoye Mine Stake to China's Nuclear Giant

Kazatomprom announced that Russia's Rosatom has sold its share in the Zarechnoye mine to China's State Nuclear Uranium Resources Development Company. The mine, with 3.5 thousand tonnes of uranium reserves, now sees an influential shift in ownership from Russia to China.

In a significant development in the global uranium market, Kazatomprom, the world's leading uranium producer, disclosed that Russia's state-run Rosatom corporation has divested its stake in the Zarechnoye mine. The stake has been acquired by a company ultimately owned by the Chinese state.

The transaction marks an important shift, transferring the Russian share of the expansive Zarechnoye mine to China's State Nuclear Uranium Resources Development Company. This change reflects the growing influence of China in the nuclear resources sector.

Kazatomprom noted that Zarechnoye's uranium reserves are estimated to be around 3.5 thousand tonnes as of early 2024, highlighting the strategic importance of the asset in the uranium industry.

(With inputs from agencies.)