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Kazatomprom's uranium output declined slightly in 2023 (Kazakhstan)

The uranium output of the Kazakh state-owned uranium extraction and nuclear group Kazatomprom decreased slightly (-1%) in 2023 to 21,112 tU3O8 (on a 100% basis). Its attributable production volume fell by 2% to 11,169 tU3O8 during the year, but its sales increased by 10% to 18,069 tU3O8 . 2024 uranium production volumes are expected to range between 21,000 and 22,500 tU on a 100% basis (10,900-11,900 tU3O8 attributable). 

In October 2023, Kazatomprom announced that it will end its uranium production cuts and increase its production volumes to a 100% level relative to Subsoil Use Agreements in 2025. In 2024, the group will keep its production 10% below the Subsoil Use Contracts level, before returning to full capacity in 2025.

Kazatomprom is the largest uranium producer in the world with a share of about 22% of the total global primary uranium production in 2022. The group has the largest uranium reserve base in the industry. Kazatomprom, together with subsidiaries, affiliates and joint organisations, is developing 26 deposits combined into 14 uranium-mining enterprises.