Following three months of 2017, the revenue of Uranium One Inc. grew fivefold year-on-year to reach 67.9 million US dollars. Its adjusted net profit (net of exchange rate differences, revaluation of financial instruments and inventory, and profit from business combination) reached 21.1 million US dollars for the same period (7.5-fold y-o-y growth). In the first quarter of 2017, Uranium One Inc. reduced its uranium output year on year and produced 2.9 million pounds (1,110 tons) of natural uranium.

Uranium One is Rosatom’s international mining division that holds all of its overseas uranium production assets managed by Uranium One Group, a holding company of the division. Its main asset is Uranium One Inc. that mines uranium in Kazakhstan and the USA.

Uranium One is the fourth biggest uranium producer in world with the lowest production costs among the world’s Top 5 uranium companies. Last year, Uranium One produced 4,919 tons of natural uranium. Its performance improvement program implemented in 2016 helped the company to cut operating costs by more than 10 million US dollars.

In March 2017, Uranium One Inc. reported headline earnings of 314.6 million US dollars for 2016. Attributable revenue for 2016 was 405.7 million US dollars based on sales of 13.5 million pounds of uranium at an average selling price of 27 US dollars per pound, with an average cash cost of 9 US dollars per pound sold. Attributable production in 2016 was 12.7 million pounds.

One of the company’s significant achievements on the global market was a uranium supply contract with Brazil. According to the contract signed with Indústrias Nucleares do Brasil (INB), Brazil’s nuclear fuel manufacturer, Uranium One will supply 982,000 pounds (roughly 400 tons) of natural uranium in 2017. “This is our first shipment to South America, particularly to Brazil,” said Vasily Konstantinov, Chairman of Uranium One Inc. “We are glad that our offer was found to be the best. We are looking forward to working with INB. This contract opens up new opportunities for expanding our sales markets and lays the groundwork for successful performance in this region.”