Kazakhstan’s state uranium company Kazatomprom, which for the last few years has restricted its own output in order to stabilise prices, will end such cuts in 2025 and thus significantly increase production.
“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.”