Kazatomprom said today that it expects Kazakhstan's 2020 annual uranium production volume to decrease by up to 4,000 tU from previous expectations as the company introduces measures to comply with COVID-19 lockdown requirements. Measures that will result in a lower level of wellfield activity, and thus a reduction in production volume, are expected to remain in place for three months. Kazatomprom is the world's biggest uranium producer, accounting for 23% of global output of the metal in 2018.

Kazatomprom announced today it has completed the sale of its 50% interest (minus one share) in Uranium Enrichment Centre JSC (UEC) to its partner in the joint venture, TVEL. The world's biggest uranium producer disclosed the RUB6.253 billion (about USD100 million) transaction with the nuclear fuel manufacturer subsidiary of Russian state nuclear corporation Rosatom in January.

Kazatomprom expects its 2020 uranium output to remain flat compared to 2019, consistent with its market-centric strategy and previously announced intention to "flex down" planned production volumes through 2021. The world's biggest uranium producer, the Kazakh company covered 23% of global output of the metal in 2018.

Kazatomprom announced today it intends to sell its 50% interest (minus one share) in Uranium Enrichment Centre JSC to its partner in the joint venture, TVEL, for RUB6.253 billion (about USD100 million). TVEL is the nuclear fuel manufacturer subsidiary of Russian state nuclear corporation Rosatom. The Kazakh uranium producer said the decision was based on its "value-driven strategy", as well as its review of current uranium enrichment market conditions.

The International Atomic Energy Agency yesterday took delivery of the first shipment of low-enriched uranium at a purpose-built storage facility at the Ulba Metallurgical Plant in eastern Kazakhstan. The delivery marks the official start of operation of the IAEA LEU Bank, aimed at providing assurance to countries about the availability of nuclear fuel.

Energy ministers from across Central Asia today committed their countries to collaborating on meeting the United Nations' seventh Sustainable Development Goal, which pledges 'affordable and clean energy' by 2030. The meeting is the first time they have come together to discuss the region's common energy challenges.

Kazakhstan's JSC National Atomic Company Kazatomprom announced today it had signed a commercial agreement to supply natural uranium to Indústrias Nucleares do Brasil (INB). Kazatomprom said it had won INB's tender to supply natural uranium hexafluoride for the needs of the Brazilian nuclear power industry.

Kazakhstan's JSC National Atomic Company Kazatomprom will continue to "flex down" production by 20% through 2021, rather than to the end of 2020 as originally planned, the company has announced. Full production will not resume until market conditions signal a need for more uranium, it said.
 

Kazatomprom CEO Galymzhan Pirmatov says he is "concerned" that more US reactors would be forced to close if the Trump administration were to introduce tariffs and force utilities to buy at least one-quarter of their uranium from domestic miners, the Financial Times reported yesterday.

Kazatomprom's uranium production for the first quarter of 2019 was 4% down from the same period in 2018 as the Kazakh company continues with its plan to reduce production. Meanwhile, US uranium production for the quarter was 74% down from 2018.

Yellow Cake plc is to purchase 1.175 million pounds of uranium (45 tU) from KazAtomProm under an existing framework agreement after raising GBP25.9 million (USD33.9 million) through a share placement.

Uranium One will focus on ensuring that all of its operating uranium mines in Kazakhstan remain at "optimal production" over the next year, it says in its latest quarterly report. Its total attributable production for 2018 was 4383 tU.