BAKU, Azerbaijan, October 12. The volume of uranium production by national nuclear company of Kazakhstan, Kazatomprom, for the first half of 2023 was almost at the same level as in the same period in 2022, showing a slight increase of 2 percent, and amounted to 10,225 tons, a source at the company told Trend.
"Sales volumes in the first half of 2023 were 6 percent higher compared to the same period in 2022, mainly due to changes in customer delivery dates. It should be noted that sales volumes may vary significantly in each period depending on customer requests and the timing of physical deliveries," the source said.
As the company noted, the nuclear holding’s consolidated revenue for the first half of 2023 amounted to 619 billion tenge (about $1.3 billion), an increase of 25 percent compared to the same period in 2022.
"Factors that contributed to revenue growth included an increase in the spot price of uranium oxide, an increase in sales volumes associated with the timing of customer requests and corresponding differences in delivery schedules, as well as an increase in revenue from uranium and rare metal products," the source said.
The source noted that Kazatomprom remains confident of achieving its production plan for 2023, which remains unchanged at 20 percent below the planned total volume under subsoil use contracts.
"Production this year is expected to range from 20,500 to 21,500 tons of uranium," the company added.
Kazatomprom registered a reduction in uranium production in 2022 by 3 percent compared to 2021 - to 21,227 tons. Production volumes, both on a 100 percent and proportional ownership basis, for the fourth quarter of 2022 and for the full year 2022 were lower compared to 2021 due to the impact of the COVID-19 pandemic on well development in 2021.
Sales volumes of Kazatomprom and its subsidiaries in 2022 decreased by 1 percent, to 16,358 tons. At the same time, the average selling price of a pound of uranium concentrate (0.45 kg) increased by 31 percent, to $43.46.