Mazhit Sharipov, Chief Executive Officer of Kazatomprom and Ali Ashraf, Director of Genchi Global Limited attended the signing ceremony. Additional guests included Almassadam Satkaliyev, CEO of Samruk-Kazyna JSC, Kairat Kelimbetov, AIFC Governor, and Galymzhan Tajiyakov, CEO of National Investment Corporation of the National Bank of Kazakhstan JSC.
The framework agreement defines the terms of Kazatomprom's investment and mechanisms for the supply of uranium products from Kazatomprom to the Fund, as a key supplier. The document also provides a number of mechanisms regarding the lock-up period and price threshold after which the Fund could be able to sell certain amounts of uranium to the market, with Kazatomprom having a priority right to repurchase any uranium the Fund decided to sell. The primary purpose of the conditions is to maintain the future balance of supply and demand in the market.
"The creation of this uranium fund has been maturing for several years,” Mazhit Sharipov, Kazatomprom’s CEO noted, “the project is being implemented within the framework of Samruk-Kazyna’s 2022-2031 Development Strategy, and Kazatomprom’s value strategy, which is focused on creating long-term market value for all stakeholders. I would like to express my gratitude to everyone who worked on the project, and I am sure that it will open up new prospects for the development of the uranium industry in Kazakhstan and beyond."
ANU Energy is a uranium fund that will provide direct access to commodity and sovereign wealth funds, state-owned enterprises, and various categories of investors from emerging markets, especially those focused on environmental, social responsibility and corporate governance issues (ESG), and clean energy investment.
As previously reported, the purpose of the Fund is to store physical uranium as a long-term investment, the initial acquisition of which will be carried out using the total US$50 million joint investment of the Fund’s founders. The Fund’s founders are Kazatomprom (48.5%), National Investment Corporation of the National Bank of Kazakhstan JSC (48.5%) and Genchi Global Limited (3%).