Kazatomprom, the world's largest uranium producer, has announced its Financial results for the year ended December 31, 2022.
Despite a 3% reduction in uranium production from 2021, Adjusted Net profits were up 111% from last year to 465 Billion Tenge, about 1 Billion US Dollars.
A 31% increase in their uranium sales price helped boost the company's profitability.
Inflationary pressures continue to increase production costs, with Cash cost up 16%, capital expenditures up 61%, and All In Sustainable Cost up 28%.
Kazatomprom also posted a 2023 production guidance of 53.3 to 55.9 Million Pounds of uranium on a 100% basis, which is down 1% from 2022. Next year's All In Sustainable Cost guidance was adjusted up 28%.