Fed’s Powell opens door to potential rate cuts at Jackson Hole
Investing.com -- Kazakhstan’s state-run uranium giant Kazatomprom (LON:KAPq) posted a sharp decline in earnings for the first half of the year, with net profit falling 54% to 263.2 billion Kazakhstani tenge ($489.5 million).
Revenue also slipped 6% to 660.2 billion tenge, the company said on Friday.
The downturn in profit was largely driven by a reduction in sales volumes, though operating profit rose 12% to 253.7 billion tenge, reflecting efficiency gains.
CEO Meirzhan Yussupov noted that while global trade tensions have fueled volatility in commodity markets, long-term uranium prices have remained steady.
He added that Kazatomprom has no immediate plans to scale production back up to full capacity.
For 2025, the company reiterated its guidance, targeting 13,000–14,000 metric tons of attributable uranium output and 17,500–18,500 tons of consolidated sales.
The forecast for all-in sustaining cash costs was kept at $29.00–$30.50 per pound.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.