Baku, Azerbaijan, Dec. 4
By Nigar Guliyeva – Trend:
Kazatomprom, Kazakhstan's national atomic company controlling all uranium exploration and mining as well as other nuclear-related activities, including imports and exports of nuclear materials, announced its intention to reduce uranium production.
The company intends to reduce by 20 percent the production of uranium in order to bring its production level in line with demand.
The cuts will be in effect for three years, beginning January 2018. This is expected to lead to a reduction in production by 4,000 tons in 2018 and in aggregate by about 11,000 tons in the three-year period.
Kazatomprom assured that these measures will not affect future commitments for supply of uranium.
"We have made a strategic decision to cut production to bring it in line with demand, which underscores our commitment to ensuring long-term sustainability of uranium mining, which in turn is an important element in production of clean, carbon-free energy worldwide," said Galymzhan Pirmatov, Chairman of the Board of JSC NAC Kazatomprom.
Kazakhstan does not have its own nuclear power plants and does not consume nuclear cycle products.
Kazakhstan owns 15 percent of the world's uranium resources and an expanding mining sector.
In 2009, it became the world's leading uranium producer, with almost 28 percent of world production, then 33 percent in 2010, rising to 41 percent in 2014, and going to 39 percent in 2015 and 2016.
