Basov reported in late January, 2022 that Kazakhstan's Kazatomprom, the world's largest uranium producer, announced that the company produced 11,858 tonnes of uranium (as U3O8) in 2021 on an attributable basis, which is 10% more than in 2020 (10,736 tonnes). Overall, uranium production in Kazakhstan (100% of KAP and its partners production) was 21,819 tonnes in 2021, a 12% increase over 2020 (19,477 tonnes).
"Production on both a 100% and attributable basis was higher for 2021 compared to 2020, and notably higher for the fourth quarter of 2021 compared to the same period in 2020," the company said in a statement.
However, the company pointed out that uranium output in 2021 represents a production level that is approximately 20% below subsoil use agreement volumes. KAP added that uranium sales at the group level in 2021 were in line with 2020, and that higher uranium prices in 2021 had a positive impact on Kazatomprom’s average realized price compared to 2020. The company also noted that production volume in 2022 is expected to be between 21,000 tU and 22,000 tU on a 100% basis, similar to 2021 at the top end of the range.
"However, pandemic-related supply chain challenges have continued to result in limited access to certain key operating materials and equipment," the company said. "This had a material impact on our wellfield development and production schedules in 2021, adding additional risk to production in 2022 and resulting in a wider range for the expected production volume."
Kazatomprom's attributable production represented approximately 23% of global primary uranium production in 2020.
The group 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.
[The company did not comment on possible Russian interference in production or in the politics of Kazakhstan that may impact the operation's long-term production reliability (more)].
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