BAKU, Azerbaijan, Nov.1
By Nargiz Sadikhova - Trend:
According to the preliminary data, uranium production by Kazakhstan’s Kazatomprom National Atomic Company amounted to 16,882 tons of product during first nine months of 2019, which is six percent more than during the same period of last year, Trend reports with reference to the report of the company.
In turn, production volume during 3Q2019 was 6,082 tons, which also is 21 percent more that during the same period of last year.
Furthermore, sales volume of the company equaled 8,002 tons of uranium from January through September compared to 11,883 tons compared to the same period of last year, which indicates a decrease of 32 percent. Sales volume during 3Q2019 was 2,577 tons, which also is 59 percent less than during 3Q2018 (6,253 tons).
Average realized price was $27.59 per pound during first nine months and $21.78 per pound during 3Q2019.
Furthermore, according to the previously announced forecast of Kazatomprom, the company is planning on producing 22,750-22,800 tons of uranium this year. Forecast sales volume is 15,000-16,000 tons, and expected consolidated revenue is 485-505 billion tenge (approximately $1.24-$1.29 billion).
Earlier this year, Kazatomprom announced its intention to continue to flex down production by 20 percent through 2021, compared to the planned levels under Subsoil Use Contracts.
Full implementation of this decision would remove up to 5,600 tons of uranium from anticipated global primary supply in 2021. Kazatomprom’s 2021 production would remain below 23,000 tons.
Kazatomprom is the world's largest producer of uranium, with the company’s attributable production representing approximately 23 percent of global primary uranium production in 2018.
The Group benefits from the largest reserve base in the industry and operates, through its subsidiaries, JVs and Associates, 26 deposits grouped into 13 mining assets. All of the company’s mining operations are located in Kazakhstan.
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