Kazatomprom increased revenue by 45% in a year

According to the head of NAC Kazatomprom JSC Yerzhan Mukanov, the company increased its consolidated revenue by 45% compared to 2021. In 2022, the company received 1 trillion tenge, the Kapital.kz portal reports.

The amount of net profit of Kazatomprom at the end of the year amounted to 473 billion tenge (+115% year-on-year). According to Mr. Mukanov, this is due to the increase in the average selling price of products due to the increase in the spot price of uranium (up to $50 per pound) and the depreciation of the Kazakh currency against the dollar.

At the same time, during the reporting period, the enterprise reduced the volume of uranium production by 3%, to 21.23 thousand tons (-592 tons compared to 2021) due to the later commissioning of wells.

The head of Kazatomprom also said during an online conference that the company intends to obtain licenses to develop Kazakh deposits of rare metals. In particular, such rare metals as beryllium and tantalum are required by the Ulba Metallurgical Plant subsidiary.

According to Mr. Mukanov, Kazatomprom is currently acquiring raw materials to produce products on the market. In addition, while the company has certain reserves for the uninterrupted operation of production for several years. However, in the future, Kazatomprom expects to independently engage in the development of rare metal deposits in the Republic of Kazakhstan.