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Kazakhstan Ends Rise in Uranium Production to Stabilize Prices

Wednesday 5 October 2011

ALMATY – After more than tripling its output of uranium in four years to become the world’s top producer, Kazakhstan has stabilized production to around 20,000 metric tons annually in order to avoid further depressing prices, Sergei Dara, Director of Strategic Development and International Projects at Kazatomprom, the state nuclear company, said Monday.

He said as long as prices remain at their current low levels, “Kazakhstan will not develop new projects and our production will remain at the current level.”

But the country may still ramp it up to 25,000 tons annually – about 40% of world production – “provided that such quantities are required by the market and we are confident we will realize a fair return on our investments,” he said

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