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Kazakh uranium output fails to meet target

Kazakh uranium output fails to meet target

Kazakhstan increased uranium production by almost one-third in 2008, but fell short of its previous output projection of more than 9,000 tons amid falling demand, the state-owned nuclear energy company said Thursday.
The Central Asian nation hopes to nearly quadruple production over the next ten years and overtake Canada and Australia to become the world's largest supplier of nuclear fuel.
Uranium production reached 8,521 tons last year, a 28.5 percent increase from 6,637 tons in 2007, Kazatomprom said in a statement.
The output forecast for next year is 11,900 tons, depending on conditions on the world market, it said.
Uranium prices fell by 40 percent last year amid the global economic downturn, prompting producers to cut output and expenditure on developing new mines.
Kazakhstan accounts for 15 percent of global uranium resources and aims to boost production to 30,000 tons by 2018, according to the London-based World Nuclear Association.
Kazatomprom is responsible for all uranium exploration and mining in Kazakhstan, but the company has in recent years reached out to commercial partners in Russia, Japan and China in a bid to ensure in can take part in all stages of the nuclear fuel production cycle.


Updated : 2021-02-28 23:12 GMT+08:00