Wise uranium Project

Budenovskoye deposit
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Sale of stake in Blocks 6 and 7 of Budenovskoye uranium mine to Russia prompted an exodus of senior
managers at Kazatomprom
: The sale of a stake in a massive new uranium mine to Russia prompted an exodus of
senior managers at Kazakhstan's state-run miner.
The deal for part of the Budenovskoye mine, projected to become the world's biggest source of the radioactive metal,
to Russia's nuclear power monopoly, Rosatom, went through at the end of last year, according to people familiar with
the matter. The deal was pushed by Kazakhstan's sovereign wealth fund against the wishes of the leadership at miner
Kazatomprom, the people said, asking not to be identified discussing a sensitive matter. [...]
At the end of last year, under instruction from the sovereign wealth fund, Kazatomprom didn't recommend the exercise
of the state's right of first refusal on a 49% stake in the venture developing blocks 6 and 7 at Budenovskoye, the people
said. That allowed Rosatom to step in and pursue the deal to buy the stake, they said. (mining.com May 16, 2023)
Uranium One Inc.
 is to acquire 
ARMZ
's 50% interest in the Akbastau Uranium Mine. Production from Akbastau
commenced in 2009 and totalled 1.0 million pounds U
3
O
8
[385 t U]. Pregnant solutions from the well fields at site 1 at
Akbastau are currently being treated at the Karatau processing facilities. Steady state production from Akbastau is
expected to be 7.8 million pounds U
3
O
8
[3,000 t U] per year. (Uranium One Inc. June 8, 2010)
Atomredmetzoloto (ARMZ)
, Russia's state-owned uranium mining holding, is buying up the Russian stakes in two
Kazakhstan-based uranium mining joint ventures from Vasily Anisimov, co-owner of the Metalloinvest holding,
ARMZ said in a press release. ARMZ is buying a 50%-interest in TOO Karatau and 25% of JSC Akbastau from
Anisimov's Effective Energy N.V. for an undisclosed amount.
TOO Karatau is already mining uranium on a commercial basis: it produced 653 tonnes of uranium in 2008. Akbastau
is in the pre-production phase and is due to start mining in 2009. (Interfax Jan. 27, 2009)
Launching of mine in the site no. 2 of Budenovskoye deposit is scheduled in 2008, and it will achieve planned capacity
in the amount of 1000 tons of uranium concentrates per year in 2012. (KazAtomProm Oct. 7, 2005)