JSC National Atomic Company KazAtomProm announced its intention to reduce planned uranium production by 20% under Subsoil Use Contracts of Company enterprises, in order to better align its output with demand, reports the Company.

This will result in the production deferral of 11 thousand tonnes over the period, of which an estimated 4 thousand tonnes in 2018 alone representing approximately 7.5% of global uranium production for 2018 as forecast by UxC.

The company has informed all its major customers of its decision, and confirmed that future contractual delivery obligations will not be affected by these measures.

Recall, JSC National Atomic Company KazAtomProm  is the world leader in the extraction of natural uranium. However, government of Kazakhstan reduced the extraction of uranium by 10% in January, 2017, to increase the price of uranium in the global market.

“The Qazaq Times”