16.05.2024, 15:42 34331

Kazakhstan plans to export uranium through China

Kazakhstan's Kazatomprom (the national uranium company) continues to diversify uranium supply routes to foreign markets, Trend reports, citing Kazakhstan's Ministry of Energy.

Thus, the Kazakh company is working on an agreement with the subsidiaries of China National Nuclear Company (CNNC) - CNUC (China National Uranium Corporation), and CNEIC (China Nuclear Energy Industry), for the provision of uranium transit services through Chinese territory.

To note, Kazatomprom currently transports uranium products from the port of St. Petersburg (Russia) to end customers in North America and Europe.

Today, an alternative route for transporting Kazakh uranium products is the Trans-Caspian International Transport Route (TITR, or Middle Corridor). The seaports of Aktau (Kazakhstan), Alat (Azerbaijan), and Poti (Georgia) facilitate delivery along this route.

Meanwhile, on September 29, 2023, Kazakhstan's Kazatomprom presented its strategy for uranium production for 2025. The Board of Directors of Kazatomprom approved the company’s strategy to increase uranium production volumes in 2025 to 100 percent of the level planned under subsoil use contracts.

Kazakhstan ranks second in the world in terms of proven reserves of natural uranium. The depths of the Republic of Kazakhstan contain about 14 percent of all proven world reserves. Estimates place the country's total proven reserves at more than 700,000 tons of uranium.

Kazakhstan took first place in uranium production in 2009 and continues to maintain a leading position in the world market. Kazakhstan produces about 40 percent of the world's uranium production. In 2021, the volume of uranium production amounted to 21,800 tons, according to the results of 2022-21,300 tons.
 

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