Uranium One admits increase in production 2 times to 10 thousand tons

In the next five years, Uranium One (U1) plans to increase the uranium production at highly enriched deposits in Kazakhstan by 18%, to 5.5 thousand tons, in spite of the persistence of low world prices for uranium. The growth is possible through the expansion of joint projects with Kazatomprom. Under favorable conditions, the production of the holding company as a whole can grow two times to 10 thousand tons of uranium per year after the launch of a mine in Tanzania, U1 predicts.

Uranium One (U1, a part of Rosatom, brings together the foreign uranium assets) plans to increase its production in Kazakhstan from the predicted 4.65 thousand tons (12 million pounds of nitrous oxide) in 2015 to 5.5 thousand tons (14.3 million pounds) in 2020. On Friday, director for resource development program of U1 Alexander Boitsov told this at the World Nuclear Association Symposium. In general, under favorable market conditions, the company may increase the uranium production to 10 thousand tons per year after the launch of the project in Tanzania, he said. The total relative production of U1 (including shares in the joint venture with Kazatomprom) was 10.4 million pounds of nitrous oxide in 2014 (about 4 thousand tons), and if licenses for disputed fields in Kazakhstan were taken into account - 12.6 million pounds (4.64 thousand tons). At the same time, the level of the production fell in relation to 2013, despite the reduction of the prime cost, to $14 per pound.