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Kazakhstan to cut production of uranium

06/12/2017
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The world’s leading producer of uranium since 2009, Kazakhstan, has announced that it will cut production in order to better align output with demand.
Production of uranium in Kazakhstan is set to be cut by as much as 20% from January 2018.
(Image via KazAtomProm).

NAC KazAtomProm, the country’s national operator for the import and export of uranium, will reduce planned production by 20% with the cuts enacted across a period of three years beginning in January 2018.

These cuts will result in the production deferral of 11 thousand tonnes over this period. Of this, around 4 thousand tonnes will be deferred in 2018 alone; a figure which represents approximately 7.5% of global uranium production for 2018.

Commenting on the decision to cut uranium production, Galymzhan Pirmatov, Chairman of the Management of NAC KazAtomProm, said:

“Given the challenging marketing conditions, and in light of continued oversupply in the uranium market, we have taken the strategic decision to reduce production in order to better align our production levels with market demand. We believe that these measures strongly underline our commitment to ensuring the long-term sustainability of uranium mining; a critical component in the generation of clean, carbon-free electricity around the globe.”
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