MINEX Forum

Tag: Dastan Kosherbayev

  • Kazatomprom to end uranium production cuts in 2025

    Kazatomprom to end uranium production cuts in 2025

    “Kazatomprom remains committed to its market-centric strategy and its disciplined approach to production and sales, and we’re excited to witness the start of a long-awaited historical shift in the uranium market,” Dastan Kosherbayev, chief commercial officer of Kazatomprom, said in a statement.
    “As we are seeing a clear sign that the industry has entered into the new long-term contracting cycle, driven by the recognition of the restocking needs, Kazatomprom, with its best-class and lowest cost mines, is absolutely prepared to respond to these improving market conditions”.

    The spot price of uranium has more than doubled over the past three years, although it is still well down from a peak of $140 a pound touched in 2007.

    For seven years including 2023, the company has produced 20% less than its contracts with the Kazakh government allowed, with this year’s output seen at 20,500-21,500 tonnes.

    In 2024, Kazatomprom said it would stick to its plan to produce 10% below the contract maximum, or 25,000-25,500 tonnes, while with no restrictions in 2025, production is expected to grow to 30,500-31,500 tonnes, the company said.

    “…Our intention to return to a 100% level of Subsoil Use Contracts production volumes in 2025 is primarily driven by our strong contract-book and already growing sales portfolio against conservative 2023-2024 production scenario,” Kosherbayev said.

  • Kazakhstan plans to increase uranium exports to 71% by the end of the year via the TITR

    Kazakhstan plans to increase uranium exports to 71% by the end of the year via the TITR

    During an interview at the esteemed 2023 World Nuclear Symposium, Dastan Kosherbayev, the Chief Commercial Officer of “NAC Kazatomprom,” eloquently delved into the company’s operational performance, elucidating its anticipated expectations and logistics routes. Representatives hailing from Kazatomprom also provided updated information regarding the current status of uranium deliveries via the Trans-Caspian International Transport Route (TITR).

    It was duly noted that as of the conclusion of the first half of 2023, an impressive 58% of all uranium deliveries from Kazakhstan to Western countries were successfully transported through the TITR. Furthermore, it is projected that by the culmination of 2023, the share of Kazatomprom’s uranium deliveries to Western countries via the TITR will ascend to a staggering 71%.