Continued profit for Uranium One

20 August 2017

Uranium One, part of the international mining division of Russian state nuclear corporation Rosatom, ended the first half of 2017 in profit. Adjusted net profit (excluding foreign exchange differences, revaluation of financial instruments) for the company for the six months totalled $30.3m. Uranium One has registered a net profit since the second quarter of 2015.

The company maintained revenues at same level as last year at around $142.1m. million ($ 141.2 million for the first 6 months of 2016). Sales volumes in the first half of 2017 increased by 9% to 2,200 tonnes of natural uranium, caompared with 2,012 tonnes in the first half of 2016.

The international mining division of Uranium One combines Rosatom’s foreign uranium mining assets with enterprises producing natural uranium at fields in Kazakhstan and the USA. Uranium One is fourth in the world in terms of uranium production, and has the best indicators of production costs among the top five world producers. Rosatom said the figures are despite the decline in world prices for uranium. Since 2012, uranium prices have fallen from around $50/lb to less than $21/lb.

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