ALMATY - Kazatomprom, the world's biggest uranium miner, said on Tuesday its 2020 net income rose to 221.4-billion tenge ($528.62-million) from 213.7-billion tenge in 2019 on the back of stronger uranium prices.
The Kazakhstan-based company said in a statement that it expected to further boost consolidated revenue this year to between 620-billion and 640-billion tenge from 587.5-billion tenge last year.
Operating profit in 2020 was 223.9-billion tenge, an increase of 47% compared with 2019, which was mainly due to an increase in average realised prices.
Adjusted earnings before interest, tax, depreciation and amortisation totalled 325.7-billion tenge in 2020, an increase of 31% compared with 2019.
Kazatomprom said it would continue to under-produce this year relative to the amounts allowed by its contracts, a policy aimed at managing global supply and demand balance.