![]() ![]() ![]() Cameco's current interest in production from JV Inkai is 57.5% based on previous agreements with Kazatomprom. The Inkai operation is an in situ recovery uranium mine in south Kazakhstan that is owned and operated by JV Inkai which, in turn, is currently owned by Cameco (60%) and Kazatomprom (40%). "Therefore, we intend to further expand our partnership, balancing the economic interests." "Kazatomprom and Cameco have, for many years now, been engaged in a highly co-operative and mutually beneficial relationship where commitments have always been upheld," said Askar Zhumagaliev, chairman of the board of Kazatomprom. "For Cameco, the agreement advances our strategy of building on our low-cost production assets that helps to mitigate the risk of today's uncertain uranium market and positions us to maximize returns when the market recovers." "This agreement strengthens our partnership with another global leader in uranium mining and moves both Cameco and Kazatomprom closer to realizing the full potential of their investment in JV Inkai," said Cameco president and CEO Tim Gitzel. The agreement was signed during the annual foreign investors meeting with the president and government officials in Astana, Kazakhstan at a ceremony attended by Bakytzhan Sagintayev, First Deputy Prime Minister of the Republic of Kazakhstan. SASKATOON, SASKATCHEWAN-(May 27, 2016) -ĪLL AMOUNTS ARE STATED IN CDN $ (UNLESS NOTED)Ĭameco Corporation (Cameco) (TSX:CCO)(NYSE:CCJ) signed an agreement with Joint Stock Company National Atomic Company Kazatomprom (Kazatomprom) and Joint Venture Inkai LLP (JV Inkai) to restructure and enhance JV Inkai. ![]()
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