Kazakhstan-based physical uranium fund begins operations

Kazakh national nuclear company Kazatomprom has signed a framework agreement with Genchi Global to invest in the newly established ANU Energy OEIC Limited physical uranium fund, meaning the fund can begin operations. Meanwhile, Kazatomprom has exercised an option to buy back uranium previously sold to Yellow Cake plc. The signing cermony was attended by Kazatomprom CEO Mazhit Sharipov, seen here on the right, and Ali Ashraf, director of Genchi Global Limited (Image: Kazatomprom) Kazatomprom is to be a key supplier to ANU, set up last month by Kazatomprom (48.5%), National Investment Corporation of the National Bank of Kazakhstan JSC (48.5%) and Genchi Global Limited (3%) to store physical uranium as a long-term investment. It is registered on the Astana International Financial Centre.

The fund’s initial acquisition will be carried out using joint investments of USD50 million from its founders. The newly signed framework agreement sets out the terms and mechanisms […]

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