JSC NATIONAL ATOMIC

KZAP
End-of-day quote. End-of-day quote  - 05/19
12358.99KZT -0.09%

JSC National Atomic Company Kazatomprom Provides Update on Situation in Kazatomprom

01/13/2022 | 07:33am
JSC National Atomic Company "Kazatomprom" provided the following update on the status of its business and operations following the recent period of unrest in Kazakhstan. The overall impact of the recent events on the Company's business was minor. All assets operated without interruption due to the Company's implementation of lessons-learned throughout the COVID-19 pandemic. Kazatomprom's risk management and business continuity plans proved to be robust, with no delays or disruptions to the Company's uranium production, deliveries or sales plans. As of 13 January 2022: Internet, telecommunications and the financial services sector have returned to normal. The President's declaration of a countrywide state of emergency, which included curfews and a ban on gatherings, has now been lifted in the West, North and Pavlodar regions. The state of critical terrorist threat has been lifted countrywide, except for the city of Almaty, Zhambyl and Almaty regions, where it is expected to remain in effect until 19 January 2022. The large-scale anti-terrorism operations, which included both Kazakh police, security and military forces, as well as support from the regional Collective Security Treaty Organization (CSTO), has largely concluded. A withdrawal of CSTO forces has begun and is expected to be completed in the coming week. At no point were CSTO forces deployed to the vicinity of Kazatomprom's infrastructure or operations. The Kazakh Government resigned on 05 January 2022 and a new government was appointed and functional as of 11 January 2022, with Alikhan Smailov becoming Kazakhstan's new Prime Minister. Within the new composition of the Government, Bolat Akchulakov, a current Kazatomprom Board member representing the interests of majority shareholder Samruk-Kazyna, has been appointed Minister of Energy and will resign from the Company's Board of Directors. Although the more serious near-term supply chain risks specifically related to recent events did not materialize, the pandemic-related supply chain challenges remain a concern, and may impact both production and cost expectations in 2022. Further updates will be provided when 2021 full-year financial results are released in March, 2022. Cases of the Omicron variant of COVID-19 continue to rise throughout the country. The Company has reinforced existing protocols to minimize the spread by introducing PCR testing for anyone accessing the mine sites. Site administrative personnel are also now working remotely.
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