Kazakhstan's Kazatomprom To Increase Production In 2025
Date
10/1/2023 8:08:51 PM
(MENAFN- Trend News Agency) ASTANA, Kazakhstan, October 2. The Board of
Directors of Kazatomprom, the Kazakh national company, approved the
company's strategy to increase production volumes in 2025 to 100
percent of the level planned under subsoil use contracts, Trend reports.
As Dastan Kosherbayev, Chief Commercial Officer of the company,
noted, Kazatomprom has demonstrated market discipline for seven
consecutive years by maintaining uranium production 20 percent
below planned volumes under subsoil use contracts, and the company
remains committed to its 2024 production target (10 percent lower
compared to the planned production level under subsoil use
contracts).
"Consistent with our market-driven strategy, our intention to
return to 100 percent production levels under subsoil use contracts
in 2025 is primarily driven by a strong contract portfolio and
growing sales volumes exceeding production volumes under
conservative production scenarios for 2023–2024. The company's
current contract portfolio provides a sufficient level of
confidence that additional volumes in 2025 will be supported by
market demand and aimed at fulfilling Kazatomprom's contractual
supply obligations," he said.
It is expected that the implementation of this decision will
lead to an increase in the estimated level of global primary
uranium production to 6,000 tons in 2025 compared to the company's
planned production volumes for 2024.
Kazatomprom's production volume in 2025 is therefore expected to
be 30,500–31,500 tons of uranium (on a 100 percent basis).
No decision has been made regarding production plans and
production volumes after 2025.
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