Uranium crunch looms as Kazatomprom cuts production

Kazatomprom, the world’s largest uranium producer, has significantly lowered its production target for 2025 due to project delays and shortages of sulphuric acid, raising concerns about a potential supply crunch for the crucial fuel used in nuclear power.

The Kazakh company, responsible for about 20% of the global uranium supply, has cut its production forecast for next year by 17%, setting a new range of 25,000 to 26,500 tonnes of yellowcake.

This reduction is expected to drive up uranium prices, which, while having eased from a 16-year high of over $100 per pound earlier this year, still remain elevated at over $80 per pound, according to pricing data provider UxC.

Meirzhan Yussupov, CEO of Kazatomprom, explained that “the uncertainty around sulphuric acid supplies for 2025 and delays in construction at newly developed deposits have necessitated a reassessment of our 2025 plans.”Nuclear power has experienced a resurgence following the global energy crisis triggered […]

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