The uranium output of the Kazakh state-owned uranium extraction and nuclear group Kazatomprom rose by 10% in 2024 to 23,270 tU3O8 (on a 100% basis) and its attributable production volume also grew by 10% to 12,286 tU3O8 during the year. However, its sales decreased by 8% to 16,670 tU3O8. In addition, the group benefited from a 27% increase in its average realised price to US$69.72/lbU3O8.
In October 2023, Kazatomprom had announced that it would end its uranium production cuts and increase its production volumes to a 100% level relative to Subsoil Use Agreements in 2025. 2025 uranium production volumes are expected to range between 25,000 and 26,500 tU on a 100% basis (13,000-14,000 tU3O8 attributable).
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.