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Investing.com -- Kazatomprom (LON:KAPq), Kazakhstan’s state uranium company, reported on Wednesday a significant rise in its full-year profit and revenue for 2024.
The surge was attributed to a substantial increase in uranium prices.
The company’s net profit rose to 1.13 trillion Kazakh tenge ($2.27 billion) in 2024, almost doubling from 580 billion tenge in the previous year.
This significant increase in profits was accompanied by a 26% rise in revenue, reaching 1.81 trillion tenge. In addition, the company’s operating profit saw a 19% increase, totaling 807 billion tenge.
Looking ahead, Kazatomprom has outlined a midterm strategy for the period of 2025 through 2034. The strategy’s main objective is to concentrate on uranium mining as its central business.
Additionally, the company plans to expand its rare and rare-earth metals segment. This strategic focus aims to strengthen the company’s position in the global uranium market.
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