Kazatomprom says geopolitical tensions yet to disrupt uranium exports
Kazakhstan-based uranium major Kazatomprom says ongoing geopolitical developments, including conflicts in Ukraine and the Middle East, have not affected its operations or financial position, although the London-listed company continues to monitor potential risks.
Reporting its financial results for the year ended December 31, the company noted that uncertainty linked to geopolitical events and capital market volatility could still influence commodity prices and market conditions going forward.
Kazatomprom confirmed that its uranium exports continue uninterrupted, with deliveries proceeding through both the Russian Federation and the Trans-Caspian International Transport Route, which has been in use since 2018.
The company added that, as at the date of its financial statements, there were no restrictions affecting the transportation of its products to end customers, with both export routes remaining fully operational.
CEO Meirzhan Yussupov said in a statement that the global nuclear energy landscape had reached “a new level of maturity”, with uranium increasingly forming part of national strategies focused on resource and energy security.
He noted that major consumers were prioritising physical supply over short-term pricing considerations and were entering into long-term supply agreements extending into the next decade, although overall contracting activity in 2025 remained below actual demand requirements.
During the year, Kazatomprom expanded its geographic footprint, adding Switzerland and the Czech Republic to its customer base, signing a contract with a Japanese utility and establishing a new long-term partnership with India.
Kazatomprom said the majority of its revenues and financing were denominated in US dollars, providing a natural hedge against exchange rate fluctuations.
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