Page 13 - Kazakh Outlook 2025

copper market analyst Ruilin Wang as saying in August that the duties were unlikely to have a big impact on Kazakhstan's copper exports
Kazakhstan is also seeking to expand its share in critical raw materials (CRM) such as lithium, cobalt, manganese, nickel and graphite. It recently began processing manganese sulphate, aiming for 10% of the global market, and is focusing on materials for lithium ferro phosphate (LFP) batteries.
Uranium
Kazatomprom, the world's leading producer of uranium, lowered its production forecast for 2025 to 25,000-26,500 tonnes, down from the previously anticipated 30,500-31,500 tonnes. The Kazakh company partly attributed the adjustment to ongoing delays in construction at new deposits and difficulties in securing sulphuric acid, which is essential for uranium extraction. Kazatomprom previously indicated that if restricted access to sulphuric acid continued into 2024 and the company proved unable to address the construction backlog at new sites, there could be negative impacts on its production plans for 2025.
The ongoing war in Ukraine, sanctions against Russia and resulting global supply chain issues have forced Kazatomprom to diversify its export routes. The company still exports uranium products to customers in North America and Europe via the Russian port of St Petersburg.
Kazakhstan revealed an initiative earlier this year to diversify its uranium export routes to avoid dependence on Russia. As part of this effort, Kazatomprom is negotiating with Chinese companies CNUS, CNEIC and CNNC to secure uranium transit services through China.
Kazatomprom has also explored the possibility of expanding the use of an alternative route via the Trans-Caspian International Transport Route (TITR), which encompasses Kazakhstan, the Caspian Sea, Azerbaijan, Georgia and the Black Sea. The company is likely experiencing hurdles along the TITR, at least if the experiences of the second largest uranium producer, Canada’s Cameco, are anything to go by.
Cameco recently said it was running into issues with relying on TITR to bypass Russia – specifically, for transporting uranium produced at the Inkai mine in Kazakhstan. Grant Isaac, the company’s vice president, said during a teleconference that while the corridor was operational, logistical complexities, such as assembling shipments in Kazakhstan and obtaining permits in transit countries, cause delays, impacting on delivery times and creating other imbalances.
In addition to transportation issues, uranium production at Inkai is declining. Cameco now expects to produce 7.7mn pounds of uranium in 2024, down from the previous estimate of 8.3mn pounds. The shortage of sulphuric acid exacerbates the problem. Isaac noted that the company does not use Russian-sourced sulphuric acid, which has constrained operations at its joint venture in Kazakhstan.
Manufacturing
13 Kazakhstan Outlook 2025 www.intellinews.com