Uranium results reflect market improvements


Cameco and Kazatomprom have increased their sales and revenue guidance for 2023 upwards as market fundamentals continue to improve. Cameco and Kazatomprom’s Inkai joint venture is in the Turkestan region of Kazakhstan (Image: Kazatomprom) The Kazakh uranium producer increased its 2023 sales guidance in its half-year trading update on 1 August, with group sales volumes increasing from 15,400-15,900 tU to 17,500-18,000 tU. This is due to customers asking to "flex up" their annual delivery quantities within existing contracts, some new long-term contracts with delivery in 2023, and Yellow Cake plc’s execution of its annual option to purchase uranium.

The company’s production guidance is unchanged at 20,500-21,500 tU (on a 100% basis).

Cameco published its second-quarter results on 2 August, with an update to its consolidated revenue outlook for 2023 which is now CAD2.4 billion-2.5 billion (USD1.8 billion-1.9 billion), up from its previous outlook of CAD2.2 billion-2.4 billion."The significant momentum seen […]

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