Kazatomprom adjusts 2025 production forecast down
Kazatomprom national company issued its consolidated financial results for six months. The company also informed about adjustments to its initial 2025 production intentions, Kazinform News Agency cites the company’s press service.
The company’s 2025 production is now expected to be between 25,000 and 26,500 tU (100% basis), an approximately 12% growth compared to its 2024 guidance.
Kazatomprom has previously warned that if limited access to sulphuric acid continues throughout this year, and should the company not succeed in catching up with the construction works schedule at the newly developed deposits in 2024, Kazatomprom’s 2025 production plan may also be affected. The company is now adjusting its initial intentions for 2025 production volumes of 30,500 – 31,500 tU (100% basis), the company informed.
A significant portion of the adjusted 2025 production is attributed to JV Budenovskoye LLP’s production delays. JV Budenovskoye LLP’s 2025 production is expected at 1,300 tU instead of the previously approved 4,000 tU (more than a 65% decrease).
Kazatomprom remains committed to its 2025 contractual obligations to all existing clients. The company has a comfortable level of inventories to fulfil its existing contractual commitments in 2025 and will persist in ensuring the availability of essential inventory levels, thereby ensuring its capability to fulfil delivery commitments while optimizing resource utilization, said the company.
Kazatomprom reserved a segment of its annual production as uncommitted, thus enabling it to capitalize on emerging opportunities and adapt to fluctuations in the market landscape. ‘This strategic approach enables the company to mitigate risks effectively and uphold our contractual obligations to clients, even amidst production-related challenges'.
The national company has made no decision yet regarding mine development activity and production volumes for 2026 and beyond taking into consideration high level of uncertainties related to the sulphuric acid supply and construction delay challenges.
In order to improve the forecast quality, the company expects its 2026 productions plans to be announced not earlier than a year from now as part of the 2025 half-year financial results disclosure, the company informed.
