Kazatomprom doubts tighten uranium market

Processed uranium ore, known as yellowcake, packed in special, tightly sealed steel drums. / IAEA image bank, cc-by-2.0 With nuclear a key part of the energy transition to zero emissions, the world uranium market continues to assess the implications of guidance from Kazatomprom, the world’s leading producer of the heavy metal, in which the company lowered its production forecast for 2025 to 25,000-26,500 tonnes, down from the previously anticipated 30,500-31,500 tonnes.

The Kazakh company partly attributed the adjustment to ongoing delays in construction at new deposits and difficulties in securing sulfuric acid, which is essential for uranium extraction. The adjustment followed an earlier increase in this year’s production target to 22,500-23,500 tonnes.

Kazatomprom previously indicated that if restricted access to sulfuric acid continued into 2024 and the company proved unable to address the construction backlog at new sites, there could be negative impacts on its production plans for 2025.

Uranium mining in […]

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