World’s Biggest Uranium Miner Warns of Production Shortfall
- Kazatomprom says sulfuric acid shortages impacting output
- Uranium prices have soared on demand boom, supply setbacks
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Kazatomprom, the world’s biggest uranium miner, warned that it’s likely to fall short of its production targets over the next two years, adding another risk to supply as demand for the nuclear fuel rebounds.
The London-listed company, which is controlled by Kazakhstan’s government via its sovereign wealth fund, said on Friday that shortages of sulfuric acid and construction delays at newly developed deposits are creating production challenges that could persist into 2025. It will outline the likely impact on output in a trading update by Feb. 1, it said.