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Kazakhstan exports all produced uranium

17 January 2014 18:08 (UTC+04:00)
Kazakhstan exports all produced uranium

By Aynur Jafarova

All the uranium produced in Kazakhstan is being exported, in particular to China and Europe,CEO of the Kazenergy Association Aset Magauov said at the 15th meeting of the Kazenergy Association Council on January 16, Trend Agency reported.

Maguauov went on to note that uncertainty is observed in the world uranium markets.

"The prices of uranium have fallen in the markets," he said, adding that the prices are already below the prime cost of production in a number of uranium deposits in the world.

"Despite the continuing decline of uranium price and closing of the fields in the world due to their unprofitability, low prime cost of production in Kazakhstan does not threaten work and production volumes in the country's fields," the CEO noted.

Magauov also said the impact of negative trends to the uranium market will cover short-term or medium-term period.

"In the long term perspective the demand for uranium will grow as the implementation of most countries' plans on transition to low-carbon energy industry is possible only if the share of nuclear power plants in the generation structure is significant," he said.

Kazakhstan has 0.85 million tons of uranium reserves and ranks second in the world in terms of reserves.

Kazakhstan ranks first in the world in terms of uranium mining. As of 2012, uranium production in Kazakhstan amounted to 21,240 tons, or about 37 percent of world production.

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