Kazatomprom ups uranium production 10% in 2024

ALMATY. Jan 27 (Interfax) - Kazatomprom increased uranium production 10% in 2024 to 23,270 tonnes, Kazakhstan's national nuclear company said in a report.

Production on an attributable basis rose 10% to 12,286 tonnes.

"Kazatomprom's 2024 production results were within the guided ranges. Production volumes on a 100% basis and on attributable basis were slightly higher throughout 2024 compared to 2023 due to an increase in the production plan in accordance with the commitments under subsoil use agreements," the company said.

Kazatomprom and its subsidiaries reduced sales 8% to 16,670 tonnes while the average realized sale price increased 27% to $69.72 per pound.

Both Group and Kazatomprom sales volumes slightly exceeded guidance "due to an increase in physical deliveries associated with additional requests from customers to flex up their annual delivery quantities within the frame of existing contracts, as well as due to prior periods' adjustments associated with conversion facility certification and weighing procedures," Kazatomprom said.

Kazatomprom mines uranium, processes rare metals and produces beryllium and tantalum products. The company exports 100% of its output. Kazatomprom is state-controlled, with Samruk-Kazyna holding 62.99% of shares and the Kazakh Finance Ministry owning 12.01%. The free float is 25%.