Kazatomprom updates on shipments and plans

06 November 2023

Sanctions on the transport of products through Russian territory have not restricted Kazatomprom's activities, the company said in its quarterly update, and production remains in line with plans. Separately, Kazatomprom's shareholders have approved a major sale of natural uranium concentrates to China's State Nuclear Uranium Resource Development Company (SNURDC).

(Image: Kazatomprom)

Third-quarter shipments went ahead without any disruptions or logistical/insurance-related issues, the company said on 1 November.

"Kazatomprom continues to monitor the list of sanctions on Russia and the potential impact they could have on the transportation of products through Russian territory. To date, there are no restrictions on the company's activities related to the supply of its products to customers worldwide," it said.

The Trans-Caspian International Transport Route (TITR) provides an alternative to Kazatomprom's primary uranium transportation via St Petersburg if it becomes unavailable for any reason. The alternative route, which does not cross Russian territory, was used for 58% of all shipments of uranium from Kazakhstan to Western countries in the first half of the year. and Kazatomprom said it expects that figure to rise to 71% of its total 2023 deliveries of uranium to Western countries.

"Whether shipped by Kazatomprom or its joint venture partners, Kazakh-origin uranium retains its origin until its arrival at a conversion facility," the company noted.

Third quarter uranium production (100% basis), at 5092 tU, and year-to-date production, at 15,317 tU, were both were slightly lower year-on-year but remain in line with plans announced at the beginning of the year, the company said.

China sale approved

Kazatomprom shareholders on 1 November also approved an agreement on the sale of natural U3O8 "on market conditions" to Chinese company State Nuclear Uranium Resource Development Company (SNURDC). The agreement was submitted for consideration by shareholders "since the transaction value, cumulative with the previously concluded transactions with SNURDC, comprises fifty percent or more of the total book value of the Company's assets", it said.

Researched and written by World Nuclear News