Kazakhstan to cut uranium output
By Trend
Kazakhstan plans to reduce uranium production by 10 percent in 2017, Kazakhstan’s National Atomic Company Kazatomprom reported on January 10.
This decision was made considering current oversupply in the uranium market.
The target uranium production for 2017 will be reduced by 2,000 tons, which is 3 percent of total global uranium production, according to on 2015 UxC Consulting figures.
“It will be better for our shareholders and stakeholders to leave these strategic uranium resources in soil, rather than use them in the current situation of oversupply. The uranium will be produced when the situation improves in the markets in the coming years,” Kazatomprom Chairman Askar Zhumagaliyev said.
Output cut will not impact any contractual commitments.
Kazakhstan’s uranium is produced by Kazatomprom’s subsidiaries
and joint ventures with international partners. The exact
production levels for each mine and JV were determined and
approved.
Even after output cut, Kazatomprom will be the largest uranium
production in the world.
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