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Kazatomprom announces further production cuts

December 4 2017, Astana – NAC Kazatomprom JSC (“Kazatomprom” and together with its subsidiaries, the “Company”), the world leader in the extraction of natural uranium, today announced its intention to reduce planned uranium production by 20% under Subsoil Use Contracts of Company enterprises, in order to better align its output with demand.

The scheduled cuts will be enacted for a period of three years commencing January 2018.

This will result in the production deferral of 11 thousand tonnes over the period, of which an estimated 4 thousand tonnes in 2018 alone representing approximately 7.5% of global uranium production for 2018 as forecast by UxC (UMO Q4).

Kazatomprom has informed all its major customers of its decision, and confirmed that future contractual delivery obligations will not be affected by these measures.

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