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.