Monday, 27 January 2025
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The Kazakh national atomic company announced in its Q4 operations and trading update: “As was announced on 2 January, JV Inkai LLP had to temporarily suspend its production activity at block No 1 of Inkai deposit since 1 January due to absence of required approvals from the state authorities, resulted from delayed submission of the corresponding documentation.
“As of the publication date of this report, JV Inkai LLP has resolved the approval issue and has resumed its mining operations at block No 1 of Inkai deposit. Potential impact of JV Inkai’s production suspension on Kazatomprom’s 2025 production plans is currently being assessed.”
It has a sufficient level of inventories to “comfortably manage its deliveries throughout 2025”, Kazatomprom said.
According to Kazatomprom’s 2 January announcement, the suspension had been necessary to comply with Kazakh law after it had failed to obtain certain approvals from state authorities by a 30 December deadline. Cameco said it had not expected the suspension, having only been informed on 31 December that JV Inkai had not received an expected extension for submission of certain documentation.
It said it was also working with JV Inkai to determine the impact of the production suspension on 2025 production plans.
Kazatomprom holds a 60% interest in JV Inkai, while Cameco owns a 40% share.
