NAC Kazatomprom to Increase Uranium Production Volumes in 2025

Introduction

In a new business plan, NAC Kazatomprom has announced its intention to increase uranium production volumes in 2025. This move aims to capitalize on the worldwide emphasis on nuclear energy. The Kazakh uranium producer predicts its 2025 production to range between 30,500 and 31,500 metric tons, representing the entire subsoil-use contract level for that year.

Boosting Global Supply

By fully implementing this production plan, NAC Kazatomprom expects to contribute up to 6,000 metric tons of uranium to the projected global supply in 2025. This increase is primarily driven by the company's robust order book and expanding sales portfolio.

Industry Significance

This decision comes at a time when uranium prices have reached their highest levels in 12 years. It reflects the growing international attention towards nuclear energy as a means of addressing both decarbonization and energy security challenges. NAC Kazatomprom observes a clear sign that the industry is entering a new long-term contracting cycle, driven by the recognition of the need for restocking.

Implementation Plans

NAC Kazatomprom will collaborate with joint ventures and mining subsidiaries to incorporate the necessary changes into budgets and development plans.