![]() In a key outcome of COP26, nations were called upon to accelerate the development, deployment and dissemination of technologies, as well as the adoption of policies, that will drive a transition towards low-emission energy systems, including the rapid scaling-up of clean power generation and enhanced energy efficiency measures. The agreement recognizes the need to take actions through significant, rapid and sustained reductions in global greenhouse gas emissions, including reducing global carbon dioxide emissions by 45% by 2030 relative to 2010 levels, with a further push to net zero emissions around mid-century. The 2021 United Nations Climate Change Conference (COP26), held in November 2021 in Glasgow, Scotland, UK, resulted in the adoption of an agreement referred to as the Glasgow Climate Pact. The information contained in this Operations and Trading Update may be subject to change. This update provides a summary of recent developments in the uranium industry, as well as provisional information related to the Company's key fourth-quarter and 2021 operating and trading results, and 2022 non-financial guidance. The author holds no licenses.JSC National Atomic Company "Kazatomprom" ("Kazatomprom", "KAP" or "the Company") announces the following operations and trading update for the fourth quarter and year ended 31 December 2021. Always do additional research and consult a professional before purchasing a security. The author has no securities or affiliations related to this organization. Information for this briefing was found via the companies mentioned. “The Fund will leverage the combination of Kazatomprom’s expertise in the uranium market and NIC’s proven track record, with the AIFC offering investors direct exposure to the attractive opportunity presented by the long-term fundamentals of the uranium market and nuclear industry,” commented Kazatomprom CEO Mazhit Sharipov. As per Kazatomprom, the fund has reportedly been under development for approximately four years. The second round, once complete, will make the fund one of the largest physical uranium-focused funds globally, with it believed to be second only to the Sprott Physical Uranium Trust, and the first within emerging markets. Once operational, a second round of financing will be conducted via a public or private offering, under which capital of up to US$500 million is expected to be raised.Īll funds raised are expected to be utilized for physical uranium purchases, with ANU Energy set to be managed by its own board of directors. An equal 48.5% stake in the initial round will meanwhile be taken by National Investment Corporation of the National Bank of Kazakhstan. The fund will have an initial US$50 million in starting capital, 48.5% of which will be financed by Kazatomprom. The fund is to be operated by Genchi Global Limited. The arrangement will see the establishment of Anu Energy OEIC Ltd, which will hold physical uranium for investment purposes, similar to the Sprott Physical Uranium Trust (TSX: SPUT) in Canada. Yesterday, Kazatomprom (LSE: KAP), the largest producer of uranium globally, announced that it will be taking a 48.5% stake in a new physical uranium fund to be listed with the Astana International Financial Centre in Kazakhstan. ![]() It appears that we have reached a point in the uranium market where producers themselves are investing in physical uranium funds. ![]()
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