Nuclear security

Is Kazatomprom About To Shock Miners?

Short but ominous note from the world’s largest uranium-producing nation this week. Suggesting that some unpleasant surprises could be coming for the mining sector here.

The place is Kazakhstan. Where the country’s president said the government may be about to take some drastic action against foreign operators in the uranium industry.

Speaking at a meeting with national uranium miner Kazatomprom, President Nursultan Nazarbayev said that Kazakhstan may soon look to “reclaim” some assets from mining companies. With the president saying that the action is necessary because firms are “not meeting their obligations” when it comes to mine development.

As Nazarbayev put it, “In this regard it is necessary to either ensure that they meet their obligations or look into reclaiming those assets in the interests of our state.”