World’s largest uranium producer slashes production target

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The story "World’s largest uranium producer slashes production target" was covered 13 hours ago by Financial Times, a news publisher based in United States.

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Financial Times 13h ago

World’s largest uranium producer slashes production target - Financial Times

Quick Summary:

The move is likely to put upward pressure on uranium prices, which have softened from a 16-year high above $100 per lb this year but remain at historically elevated levels above $80 per lb, according to UxC, a pricing data provider.

Kazatomprom has recently been rocked by a spate of executive departures including its chief financial officer Sultan Temirbayev, who resigned this month after only a year in the post.

The Kazakh company, which generates a fifth of global uranium supply, cut its target for next year by 17 per cent to a range of 25,000 to 26,500 tonnes of yellowcake.