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Kazakhstan's Kazatomprom expects its output to be flat year-on-year

Business Materials 21 May 2020 11:12 (UTC +04:00)
Kazakhstan's Kazatomprom expects its output to be flat year-on-year

BAKU, Azerbaijan, May 21

By Nargiz Sadikhova - Trend:

Kazakhstan’s Kazatomprom National Atomic Company and its subsidiaries continue taking comprehensive measures to combat the spread of COVID-19, Trend reports with reference to the company.

Within the framework of these measures, all of the company's mining operations were reduced to maintain minimum staff with all non-essential staff remaining at home.

As previously disclosed, these measures are expected to be in place for three months, resulting in a stoppage of wellfield development activity and, in consequence, a reduction in overall 2020 production volumes.

“However, production volumes through the 1H2020 are expected to be similar to the 1H2019, as 1H2020 production is the result of wellfield development that took place before implementation of the current measures. These measures, taken during the second quarter, will therefore impact production rates in 3Q2020 and 4Q2020,” the company said.

The company also noted that while the reduction in production affects all of Kazakhstan’s uranium mines, the lost production will not be equal at every operation.

“The production impact at each operation depends on a number of factors, including the number of wellfields already in operation when staffing was reduced, and the geological characteristics of each deposit,” the company said.

The company also emphasized that a great deal of uncertainty remains, as the duration of the pandemic situation is still unknown.

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 company 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 the company’s mining operations are located in Kazakhstan.

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