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October 05, 2011

Kazakhstan Ends Rise In Uranium Production To Stabilize Prices

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.

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

They expect to produce 19,800 tons of uranium in 2011 and 2012.





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