ALMATY - The world's largest uranium producer, Kazakhstan's Kazatomprom, said on Friday it may cut its 2024 production plan due to difficulties with the availability of sulfuric acid needed for uranium production.
The company had previously predicted that uranium production in the country would be 25 000 t to 25 500 metric tons this year and 30 500 to 31 500 t in 2025, compared with 20 500 t to 21 500 t in 2023.
In a statement, the company said: "Despite the ongoing active search for alternative sources of sulfuric acid supply, current forecasts indicate that the company may find it difficult to achieve 90% production levels compared to subsoil use contract levels".
Kazatomprom, which floated shares on the London Stock Exchange in 2019 and is 75% state owned, mines uranium in Kazakhstan both independently and through joint ventures.