Kazakhstan plans to produce 10% less uranium in 2017 than previously planned in response to ongoing oversupply in the uranium market, KazAtomProm chairman Askar Zhumagaliyev announced today.
In total, Kazakh uranium production for 2017 will be 2000 tU less than previously planned. The reduction is roughly equivalent to 3% of total global uranium production based on 2015 figures.
Kazakhstan’s uranium mining operations are either wholly owned by state-run company Kazatomprom or operated through joint ventures between KazAtomProm with international partners. The exact production levels for each mine and joint venture have been determined and approved by their respective management boards, based on the circumstances and economics of each operation, and vary from the 10% aggregate, KazAtomProm said. Continue Reading →