Kazatomprom announces physical uranium fund

Kazatomprom announces physical uranium fund

Kazatomprom has announced it is to participate in a physical uranium fund, ANU Energy OEIC Limited, established on the Astana International Financial Centre (AIFC). The fund will hold physical uranium as a long-term investment, with its initial USD50 million of purchases financed by its founders and plans to raise USD500 million for additional uranium purchases in a second development stage. (Image: Kazatomprom)

The initial USD50 million is sourced from Kazatomprom at 48.5%, National Investment Corporation of the National Bank of Kazakhstan (NIC) at 48.5%, and UAE-based investment company Genchi Global Limited at 3%. Genchi is to be the fund manager. Once the fund is operating, an additional public or private offering is planned to raise capital of up to USD500 million from institutional and/or private investors, with the proceeds to be used for additional uranium purchases. The timing and details of this second development stage will be determined by market […]

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