19 Mar, 13:25

Conflict between Russia, Ukraine results in volatility in uranium spot price — Kazatomprom

The group exports goods through Russia, which "creates risks associated with both transit through Russia and the delivery of goods by sea," the company noted

ASTANA, March 19. /TASS/. National Atomic Company Kazatomprom has not experienced a significant impact of sanctions on its operations yet, though the conflict between Russia and Ukraine has resulted in significant volatility in the uranium spot price, domestic currency exchange rate and the company's share price.

"Sanctions have not had a significant impact on the group's operations, although the resulting market uncertainty caused by the war in Ukraine has resulted in significant volatility in the uranium spot price, domestic currency exchange rate and the company's share price," Kazatomprom said in its 2024 financial report.

The group exports goods through Russia, which "creates risks associated with both transit through Russia and the delivery of goods by sea," the company noted, adding that it continuously monitors the potential impact of sanctions on the ability to transport material, assesses sanctions-related risks, and takes mitigation measures.

Kazakhstan’s share of global uranium production totals 22%. In 2022, National Atomic Company Kazatomprom sold uranium to more than 24 clients in 11 countries. China is the main purchaser of uranium.

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Trade & Cooperation

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Russia developing Caspian flotilla infrastructure — top brass

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