World's biggest uranium miner seeks extra shipping capacity bypassing Russia

Natsional'naya Atomnaya Kompaniya Kazatomprom AO

26/10/2022 08:51

ALMATY, Oct 26 (Reuters) - Kazatomprom  KZAP.KZ , the
world's biggest uranium miner, is seeking to boost the capacity
of its alternative shipping route which bypasses Russia to
mitigate risks from potential sanctions, the Kazakh company said
on Wednesday.
    Landlocked Kazakhstan has traditionally shipped most of its
key exports such as oil through Russia. Kazatomprom said it
shipped products via the Russian port of St. Petersburg
throughout the third quarter with no issues, 
    "However, the Trans-Caspian International Transport Route
(TITR), which the company has successfully used as an
alternative route since 2018, helps to mitigate the risk of the
primary route being unavailable, for any reason," it said in a
statement.
    The route goes from Kazakhstan via the Caspian Sea to
Azerbaijan and then Georgia from where products can be shipped
through Black Sea ports.
    Kazatomprom has an approved annual quota allowing it to ship
a total of up to 3,500 tonnes (of uranium) from its Kazakh mines
via the TITR, it said. For comparison, Kazatomprom and its joint
ventures produced about 5,400 tonnes in the third quarter.
    "The company is working to increase the quota limit and is
assisting JV partners if they would prefer not to receive their
share of material via the established route that passes through
the Port of St. Petersburg," it said.
    Kazatomprom said it had a shipment to Western markets
in-progress on the TITR which was awaiting consolidation in the
Georgian port of Poti.
    But there is a risk of delays for shipments where the
nuclear material is owned by Kazatomptom's joint venture
partners as "transit country authorities ask for certain
shipment details and associated documents", it said.
 (Reporting by Olzhas Auyezov; editing by David Evans)
 ((olzhas.auyezov@thomsonreuters.com; +7 727 2508 500; Reuters
Messaging: olzhas.auyezov.thomsonreuters.com@reuters.net))