Kazatomprom, the world’s largest uranium producer, has cut its production target for 2025 due to project delays and sulphuric acid shortages, potentially threatening supplies.
The Kazakh company, which generates a fifth of global uranium supply, cut its target for next year by 17% to a range of 25,000 to 26,500 tonnes of yellowcake, or triuranium octoxide (U3O8), a type of uranium concentrate powder used to produce fuel for nuclear power reactors.
The move is likely to put upward pressure on uranium prices, which have softened from a 16-year high above $100/lb this year but remain at historically elevated levels above $80/lb, according to UxC, a uranium pricing data provider.