(Kitco News) - Kazakhstan's Kazatomprom (LSE: KAP), the world's largest uranium producer, today reported that it has completed a physical delivery of natural uranium using the Trans-Caspian International Transport Route (TITR).
In its press release, the company said it has successfully used the TITR as an alternative route for delivering Kazatomprom's material to western customers since 2018, helping to mitigate the risk of the primary route through St. Petersburg being unavailable, for any reason.
"As was previously disclosed in Kazatomprom's 3Q Operations and Trading Update, as of 26 October 2022, the KAP-owned portion of the shipment had reached the Port of Poti and was waiting for additional material from JV Inkai to arrive, prior to being loaded onto a chartered vessel for furtherance to its final destination; the delivery, which included both Kazatomprom and JV Inkai owned uranium, has arrived to a Canadian port," Kazatomprom added.
The company also pointed out it continues to monitor the growing 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.
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.
Kazatomprom has the status as Kazakhstan's national operator for the export and import of uranium and its compounds, nuclear power plant fuel, special equipment and technologies.
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