The world's largest uranium mine in Kazakhstan is in disaster


Uranium prices reach record levels, rising to a 16-year high. Trading closes at $93 per pound of raw materials. However, this is not just the limit, but is likely just the beginning, as the world's largest uranium mine in Kazakhstan has reported large and varied problems affecting production and exports to the international market. This was reported by the press service of Kazatomprom.


The entity, controlled by the Kazakhstan government's sovereign wealth fund, said it would detail the likely impact of the sulfuric acid shortage and delays in new field construction on output in a trading report on February 1. However, the very statement that the largest supplier is literally in distress and cannot yet cope with a wide range of problems has caused instability in the market and an increase in the already high prices for the most important raw materials.

The Kazakh supplier hastened to reassure customers and markets, saying that it would try to fulfill contractual obligations. However, the wording itself implies a violation of the promised, experts believe.

Kazakhstan is the largest producer and exporter of uranium in the world, mining and exporting more than 40% of the world's reserves. The Republic is also a leading supplier of uranium to Russia, which uses more than twice as much of the specific raw material as its own mines produce.

Unfortunately, Kazatomprom’s problems began when the world was in dire need of uranium ore and enriched fuel. Public sentiment toward nuclear power has improved over the past year as governments try to balance energy independence with urgent calls to address climate issues.

Nuclear power, which has received a bad reputation due to some serious nuclear disasters, has recently been hailed as a carbon-free energy source that simultaneously serves as a base-load energy source that is superior in variability to solar and wind energy sources.
  • Photos used: kazatomprom.kz
17 comments
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  1. prior Offline prior
    prior (Vlad) 13 January 2024 09: 14
    +8
    Anyone can choke on a large piece.
    Each enterprise has its own development limit.
    Overestimate your strength - get problems.
  2. Sergey Latyshev Offline Sergey Latyshev
    Sergey Latyshev (Serge) 13 January 2024 09: 30
    +4
    Recently it was written that Russia, China, France, America are investing money there...
    and now rising prices are supposedly problems - What are they? - we'll tell you in February...

    Looks like someone just wanted to get bigger
  3. bobnew2017 Offline bobnew2017
    bobnew2017 (Bobylev Alexey) 13 January 2024 10: 16
    +5
    You have to be friends with your neighbors, otherwise you won’t see any acid, much less uranium.
  4. strange guest Offline strange guest
    strange guest (Strange Guest) 13 January 2024 10: 36
    +2
    Kenguryatniki will increase production. They have the most uranium on the planet. And Canada will help. A holy place is never empty.
    1. svoroponov Offline svoroponov
      svoroponov (Vyacheslav) 13 January 2024 12: 54
      +4
      If they could, they would increase it. And where to process it, turning raw materials into fuel tablets?
      1. strange guest Offline strange guest
        strange guest (Strange Guest) 13 January 2024 18: 23
        -5
        It's a question of time. Small. It will be profitable - they will fix it. How shale producers extracted oil, although I remember very well - they claimed that this was a fake technology.
  5. boriz Offline boriz
    boriz (boriz) 13 January 2024 11: 25
    +2
    Three years ago I wrote a post https://topcor.ru/19221-gde-putin-pereshel-dorogu-demokratam-ssha.html, dedicated to the situation in the field of uranium mining.
    There is a lot of information there that gives reason to assume that Rosatom is largely capable of performing, in the field of uranium mining and the production of fuel assemblies, the functions that OPEC performs in oil production.
    The price of oil begins to fall - OPEC reduces oil production, and vice versa.
    Only Rosatom performs these functions practically in one person.
    1. PavelT Offline PavelT
      PavelT (Paul) 13 January 2024 20: 39
      +2
      And for some reason Russia did not take advantage of this with the start of the war and sanctions against us. What's the matter? The country has an economic weapon, why not use it???
      1. boriz Offline boriz
        boriz (boriz) 14 January 2024 10: 38
        +1
        Now a lot is changing before our eyes, and will continue to change even faster.
        Much has already changed. It's just that not everyone notices it.
  6. Kiril Offline Kiril
    Kiril (Kiril) 13 January 2024 17: 57
    +3
    Why did we give uranium to the Kazakhs?
    1. Midshipman Offline Midshipman
      Midshipman (Sergei) 13 January 2024 22: 06
      -4
      It's not us, it's Lenin
    2. boriz Offline boriz
      boriz (boriz) 14 January 2024 10: 39
      0
      Why did we give uranium to the Kazakhs?

      When?
      1. Flight Online Flight
        Flight (Von) 14 January 2024 17: 03
        0
        Quote: boriz
        Why did we give uranium to the Kazakhs?

        When?

        Well, then...When EBN said - take as much as you want...
    3. Bulanov Offline Bulanov
      Bulanov (Vladimir) 14 January 2024 20: 01
      0
      Kazakhstan is the largest producer and exporter of uranium in the world, mining and exporting more than 40% of the world's reserves.

      And who shouted: “Stop feeding the outskirts?” It was in the early 1990s that smart people in Moscow wanted to separate from Kazakhstan with uranium, from Azerbaijan with oil, from Turkmenistan with gas, from Ukraine with Odessa... If there was a USSR, everything would be ours, common.
  7. Midshipman Offline Midshipman
    Midshipman (Sergei) 13 January 2024 22: 05
    +1
    It just jacks up the price.
  8. Kuramori Reika Offline Kuramori Reika
    Kuramori Reika (Kuramori Reika) 14 January 2024 01: 21
    +1
    Isn't sulfur oxide a byproduct of petroleum distillation? How come they don't have enough sulfuric acid?
  9. Flight Online Flight
    Flight (Von) 14 January 2024 08: 13
    +2
    The monopolist decided to play with prices.