Uranium extraction forecast down in Kazakhstan

Oil&Gas Materials 19 December 2019 17:04 (UTC +04:00)
Uranium extraction forecast down in Kazakhstan

BAKU, Azerbaijan, Dec.19

By Nargiz Sadikhova - Trend:

Uranium extraction volume in Kazakhstan will amount to 22,742 tons in 2019, which is 5 percent more compared to 2018, Trend reports with reference to Kazakhstan’s ministry of energy.

According to the ministry, Kazakhstan maintains leading position on the global market of natural uranium providing for 40 percent of the extraction volume globally.

“At the same time, unfavorable pricing conditions persist on world uranium market. This is why, projects for production and sale of highly processed uranium products with high added value are being implemented on the market,” the ministry said.

Currently, Ulba Metallurgical Plant (a part of Kazatomprom group of companies) is implementing a project for manufacturing of fuel assemblies for nuclear plants.

“Project’s capacity is 200 tons of uranium fuel assemblies a year intended for export to China. The project is to be completed by 2020,” the ministry said.

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).

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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