“Joint Venture “Inkai” Limited Liability Partnership was registered on March 21, 1996 at the Republic of Kazakhstan. The partners are: Cameco Corporation (Canada) and National Atomic Company “Kazatomprom” Joint Stock Company (Kazakhstan).
On April 20, 1999, the Government of the Republic of Kazakhstan granted a license to the Partnership entitling to a subsoil management, following which on July 13, 2000 the Agency for the Investments of the Republic of Kazakhstan and the Partnership signed the subsoil management contract No.507 for uranium extraction at Block No.1, for exploration with further mining at Blocks No. 2 and 3 within Inkai deposit location, South Kazakhstan region.
On May 27, 2016, within Council of foreign investors in Kazakhstan, in Astana, between Cameco Corporation and JSC NAC Kazatomprom and JV Inkai LLP the Implementation Agreement was signed, defining further development of joint projects for the next 30 years, in particular, the extension of periods of validity of the contract for subsoil use until 2045 and also the increase of the share of NAC Kazatomprom JSC in JV Inkai LLP from 40% to 60%.
On December 11, 2017, NAC Kazatomprom JSC and Cameco Corporation have announced the completion of JV Inkai LLP’s restructuring. The CEO of Kazatomprom Galymzhan Pirmatov, and the President and CEO of Cameco Corporation, Tim Gitzel, at a ceremony in London signed the documents required to complete the restructuring outlined in the May 27, 2016 Implementation Agreement between NAC Kazatomprom, Cameco Corporation and and JV Inkai LLP.