(Kitco News) - Kazakhstan's Kazatomprom (LSE: KAP), the world's largest uranium producer, today released unaudited condensed interim consolidated financial statements for Q3 and 9M 2022.
According to the company’s statement, its 9M 2022 total comprehensive income amounted to 306,751 million Kazakhstani tenge (~US$669 million, based on the average exchange rate for 9M 2022), which is 289% higher than its 9M 2021 income of 78,921 million Kazakhstani tenge (~US$186 million, based on the average exchange rate for 9M 2021).
The company explained that the most significant factors that affected the Group’s results of operations in 9M 2022 compared to 9M 2021 included a 59% increase in sales volumes, primarily due to the timing of customer-scheduled deliveries, as well as a 41% increase in the average realized price of uranium.
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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