On October 1, Chief Commercial Officer Riaz Rizvi spoke via webcast in a moderated question and answer session at the TD Securities Virtual Uranium Roundtable.
During the roundtable the situation on the world uranium market and the influence of COVID-19 to production and sales were discussed. The information about the Company’s competitive advantages in the uranium market was provided, along with a review of the COVID-19 pandemic’s impact on the company and its plans. Mr. Rizvi reiterated that the company is extending its 20% production curtailment (relative to production expected under its subsoil agreements) into 2022.
In discussing current marketing activities, he indicated that Kazatomprom has committed its production under long-term contracts and is not supplying material into the spot market; most of its contracts have 2-5 year durations, but the company does have some commitments extending through to 2030. Within the past few months, Kazatomprom has seen an increase in enquiries from utilities for term material. Management believes that utilities do recognize that the market needs new supply within the next decade, but they have been too busy managing their operations through the pandemic to begin serious contracting for future fuel needs.
For more details, please follow the link: https://www.veracast.com/webcasts/tds/oct12020/29102103584.cfm#/player/html5/speed/a8
For further information, please contact:
Kazatomprom Investor Relations Inquiries
Cory Kos, Director of Investor and Public Relations
Tel: +7 (8) 7172 45 81 80
Kazatomprom Public Relations and Media Inquiries
Torgyn Mukayeva, Deputy Director of Investor and Public Relations
Tel: +7 (8) 7172 45 80 63
Kazatomprom is the world's largest producer of uranium, with the company’s attributable production representing approximately 24% of global primary uranium production in 2019. The Group benefits from the largest reserve base in the industry and operates, through its subsidiaries, JVs and Associates, 24 deposits grouped into 13 mining assets. All of the Company’s mining operations are located in Kazakhstan and mined using ISR technology with a focus on maintaining industry-leading health, safety and environment standards.
Kazatomprom securities are listed on the London Stock Exchange and Astana International Exchange. As the national atomic company in the Republic of Kazakhstan, the Group's primary customers are operators of nuclear generation capacity, and the principal export markets for the Group's products are China, South and Eastern Asia, Europe and North America. The Group sells uranium and uranium products under long-term contracts, short-term contracts, as well as in the spot market, directly from its headquarters in Nur-Sultan, Kazakhstan, and through its Switzerland-based trading subsidiary, Trade House KazakAtom AG (THK).For more information, please see our newly updated website at http://www.kazatomprom.kz