Uranium production at the joint venture of Kazatomprom and Cameco decreased by 15%
In the first quarter of 2024, the Inkai company reduced the production of radioactive metal to 615 tons. This figure is more than 15% lower than last year’s result – 731 tons of uranium were extracted in January-March 2023. This is stated in the Cameco report.
Inkai is a joint organization of Kazatomprom and Cameco (Canada). Their shares are 60% and 40%, respectively. Uranium mining is carried out in the Turkestan region.
According to the initial plan, Inkai should extract about 3.2 thousand tons of radioactive metal this year. Note that this figure is already 20% lower than that specified in the subsoil use agreement.
It is important to take into account that the plan was formed on the condition that the enterprise would receive the necessary volumes of sulfuric acid needed for uranium production. However, at the moment, the supply of the substance is unstable.
In addition, the achievement of target indicators may be affected by a delay in construction and inflation pressure on the cost of uranium mining.