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Uranium One lifts 2013 output, lifts Kazakhstan mine reserves

Uranium One lifts 2013 output, lifts Kazakhstan mine reserves

Photo by Bloomberg

27th February 2014

By: Henry Lazenby

Creamer Media Deputy Editor: North America

  

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TORONTO (miningweekly.com) – Private uranium producer Uranium One this week reported that its share of uranium output from its operations around the world in 2013 rose 8% to a record of 13.2-million pounds of uranium oxide (U3O8).

This compared with 12.2-million pounds in 2012.

Uranium One, one of the world’s largest uranium producers, with assets around the globe, which last year was taken private through a C$1.32-billion transaction by Russia’s Atomredmetzoloto (ARMZ), that had helped ARMZ to consolidate control over its uranium assets, also reported a 429% increase in measured and indicated resources at its South Inkai uranium mine, in Kazakhstan.

As at December 31, the company's attributable share of proven and probable reserves increased by 282%, from 9.24-million pounds to 35.34-million pounds of U3O8.

Attributable measured and indicated resources increased by 429%, from 10.27-million pounds U3O8 to 54.36-million pounds U3O8, and the attributable share of inferred resources rose by 58%, from 31.12-million pounds U3O8 to 49.08-million pounds U3O8.

Edited by Creamer Media Reporter

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