Uranium Market Update
Uranium market update
January 2022
Kazatomprom(1)
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YELLOW CAKE PLC
On 2 January 2022, civil unrest surfaced in Kazakhstan related to an increase in fuel prices, which in turn led to the declaration of a
two-week nationwide state of emergency on 5 January
Kazatomprom reassured its global uranium customers that uranium production and transport operations remained unaffected,
although the nationwide rail service was impacted for a short period
December quarter production volumes totalled 15.2 mlbs., a substantial increase from 4Q 2020 when aggregate output reached 11.4
mlbs.
Annual production improved by more than 12% year-on-year totalling 56.7 mlbs., as compared to 50.6 mlbs. for 2020 when uranium
operations were curtailed in response to the COVID-19 pandemic
■ Production guidance for 2022 stands at 54.6-57.2 mlbs. which could be impacted by pandemic-related supply chain “challenges.”
Kazatomprom stated "pandemic-related supply chain challenges have continued to result in limited access to certain key operating
materials and equipment (production reagents, certain types of pipes and pumps, specialized equipment, drilling rigs) which had a
material impact on the Company's 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."
Source:
1.
Kazatomprom 4Q21 Operations and Trading Update; 27 January 2022View entire presentation