ASTANA, Kazakhstan, July 10. Kazakhstan will adjust the mineral extraction tax (MET) on uranium starting January 1, 2025, Trend reports.
In 2025, the tax on uranium production will increase to 9 percent.
Then, beginning January 1, 2026, a differentiated approach will be implemented for calculating the MET on uranium. This approach will take into account the actual annual production volumes for each subsoil use contract and the prices for natural uranium concentrate (U3O8).
|
Annual production volume |
Rate, % |
|
Up to and including 500 tons |
4% |
|
Up to and including 1,000 tons |
6% |
|
Up to and including 2,000 tons |
9% |
|
Up to and including 3,000 tons |
12% |
|
Up to and including 4,000 tons |
15% |
|
Above 4,000 tons |
18% |
Furthermore, if the natural uranium concentrate (U3O8) price exceeds the values specified in the table below, an additional MET rate increase will be applicable:
|
Weighted average U3O8 price |
Additional rate, % |
|
Above $70/lb |
0.5% |
|
Above $80/lb |
1.0% |
|
Above $90/lb |
1.5% |
|
Above $100/lb |
2.0% |
|
Above $110/lb |
2.5% |
Due to these changes, different joint ventures and subsidiaries of Kazatomprom will have varying MET rates starting in 2026 and beyond.
The amendments take effect on January 1, 2025, and will not impact the company’s 2024 guidance or tax expectations for that year.
