Kazatomprom plans to produce 20,500-21,500 tonnes of uranium in 2023 Kazakhstan’s National Atomic Company Kazatomprom (KAP) expects to produce 20,500-21,500 tonnes of uranium in 2023, the company said in a press release on Friday.The production target for 2023 on the attributable basis, which corresponds only to the size of the company’s interest in other companies, is 10,600-11,200 tonnes.Kazatomprom’s production expectations for 2023 remain consistent with its market-centric strategy and the intention to flex down planned production volumes by 20% for 2018 through 2023 (versus planned production levels under Subsoil Use Agreements).“Decrease in production guidance for 2023 in comparison to 2022 is mainly due to continued delays and/or limited access to certain key materials, including sulfuric acid, and equipment impacting the wellfield commissioning schedule in 2022,” the press release says.Sales volume guidance for 2023 is anticipated to be between 15,400 and 15,900 tonnes of uranium, which includes KAP sales of between 12,100 and 12,600 tonnes.“The Company continues to target an ongoing inventory level of approximately six to seven months of annual attributable production. The Company may purchase uranium from the spot market, while continuing to monitor market conditions for opportunities to optimize its inventory,” the press release says.Wellfield development, procurement and supply chain issues, including inflationary pressure on production materials and reagents, are expected to continue throughout 2023, impacting the company’s financial metrics, according to the press release.“Changes to the tax code of the Republic of Kazakhstan on Mineral Extraction Tax, which came into effect in 2023, will have an additional impact on the company’s financial performance. The expenditures related to the local social funding requests are possible as well. However, these risks cannot be quantified or estimated at this time,” the press release says.Financial guidance for 2023 will be published in the Operating and Financial Review for 2022, expected to be released on March 14, 2023.In 2022, Kazatomprom produced 21,227 tonnes of uranium; its output on the attributable basis in the same year amounted to 11,373 tonnes. The sales by Kazatomprom and its subsidiaries in 2022 totaled 16,358 tonnes.National Atomic Company Kazatomprom JSC is the national operator of the Republic of Kazakhstan for the export of uranium and its compounds, rare metals, nuclear fuel for nuclear power plants, special equipment, technologies, and dual-use materials. Kazatomprom is controlled by National Wealth Fund Samruk-Kazyna’s management.-- (ICE ALMATY)

Fonte notizia: Interfax