Kazakh state nuclear fuel company, Kazatomprom, said Friday that existing contracts with foreign companies involved in Kazakhstan won't be scrapped.
Kazatomprom said in a statement that its management has met with the company's foreign partners, including Canada's Uranium One (UUU.T), Japan's Marubeni Corp. (8002.T) and Sumitomo Corp. (8053.T), and assured them of a strategic and mutually beneficial cooperation with Kazatomprom.
Foreign companies involved in uranium mining in Kazakhstan have been concerned about the future of their joint ventures when Kazakh law enforcement agencies arrested Kazatomprom's senior executives, including its chief executive, and charged them with illegally transferring stakes in uranium mines to offshore companies.