ASTANA — Kazakhstan has reported record-breaking exports of processed uranium in the first ten months of 2023. The total value of uranium sales abroad during this period surged to an impressive $2.46 billion, marking a substantial 33% increase compared to the same timeframe in the previous year, according to a Dec.19 post by First Credit Bureau Data Hub Telegram channel.
The reported figures indicate the highest value recorded since at least 2015, highlighting Kazakhstan’s significant growth and prominence in the uranium export market.
China emerged as the primary driver behind this surge, displaying remarkable growth in uranium imports from Kazakhstan. From January to October 2023, the country shipped uranium worth $922.7 million to China. This represents a tremendous 2.2-fold increase compared to the same period in 2022. Notably, October alone accounted for 28% of the total annual volume, reaching $258 million—a remarkable ninefold increase compared to October 2022.
The outstanding performance in uranium exports was not limited to China, as there was also substantial growth in the Russian direction. Over the ten months of 2023, uranium exports to Russia approached $1.2 billion, reflecting an impressive 72% year-on-year increase.
This substantial uranium export growth to China and Russia effectively compensated for a decline in another crucial export direction—Canada. Uranium deliveries to Canada during the same period were $168.5 million, marking a significant 70% decrease compared to the previous year.