Kazatomprom, the National Atomic Company of Kazakhstan, disclosed its consolidated financial outcomes for the year 2023

22/03/2024

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Kazatomprom's 2023 financial results reflect the significant improvement in the uranium market and the company's strong position as the largest seller and lowest-cost producer globally. Kazatomprom demonstrated exceptional financial resilience, reflecting its strategic market positioning and robust operational efficiency. Despite significant volatility in the global uranium market due to geopolitical tensions and clean energy transition, the demand for nuclear power increased significantly. With Kazakhstan accounting for 40% of annual world uranium production, at least every third of nuclear reactors worldwide relies on Kazakh uranium. Meirzhan Yussupov, CEO of Kazatomprom, emphasized the Company's role in energy security and readiness to secure utilities' needs amidst market bifurcation discussions. Kazatomprom achieved impressive financial results in 2023, despite a modest increase in average annual uranium prices. Group consolidated revenue grew by 43%, reaching 1.4 trillion t

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Source and Credit: kazatomprom.kz