Top uranium miner Kazatomprom reports production decline in 2022
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(Kitco News) - Kazakhstan's Kazatomprom (LSE: KAP), the world's largest uranium producer, announced today that the company produced 11,373 tonnes of uranium (as U3O8) in 2022 on an attributable basis, which is 4.1% lower than in 2021 (11,858 tonnes).
According to a company press-release, overall, uranium production in Kazakhstan (100% of KAP and its partners' production) was 21,227 tonnes in 2022, down 2.7% over 2021 (21,819 tonnes).
In Q4 2022, the company produced 3,064 tonnes of uranium on an attributable basis, which is in line with Q4 2021 (3,066 tonnes).
In Q4 2022, uranium production in Kazakhstan (100% of KAP and its partners' production) was 5,780 tonnes, down 1.4% over Q4 2021 (5,860 tonnes).
In 2023, the company expects to produce between 20,500 and 21,500 tonnes on a 100% basis and between 10,600 and 11,200 tonnes on an attributable basis.
Kazatomprom is the world's largest producer of uranium, with the company's attributable production representing approximately 24% of global primary uranium production in 2021.
The company benefits from the largest reserve base in the industry and operates - through its subsidiaries, JVs and Associates - 26 deposits, located in Kazakhstan, grouped into 14 mining assets. All of the company's mining operations are located in Kazakhstan and extract uranium using in-situ recovery technology.
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