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Kazatomprom Moves Toward Long-Term Uranium Supply Deal With India
(MENAFN- Trend News Agency) ** ASTANA, Kazakhstan, March 18.** Kazakhstan’s national nuclear company Kazatomprom is working on concluding a long-term contract to supply natural uranium concentrates to India, Chairman of the Management Board Meirzhan Yussupov said during a meeting with President Kassym-Jomart Tokayev, Trend reports via the presidential press service.
In the course of the meeting, President Tokayev was briefed on the company’s performance in 2025 and its plans for the upcoming period.
According to Yussupov, the total uranium production by Kazatomprom amounted to 25,800 tons in the previous year, of which 13,500 tons were attributable to the company. Sales volumes increased by 11%, reaching 18,500 tons.
Yussupov further noted that the company has established a portfolio of six new prospective uranium sites, spanning over 1,000 square kilometers. Planned investments in exploration are projected to range between 75–85 billion tenge (approximately $156–176 million) by 2030.
He also emphasized Kazatomprom’s efforts to expand its market presence. In 2025, the company secured uranium supply contracts with several European energy firms, including Axpo Power AG (Switzerland), ČEZ Group (Czech Republic), and Kansai Electric Power Co., Inc. (Japan).
Furthermore, the company allocated more than 11 billion tenge ($22.8 million) to the socio-economic development of uranium-producing regions, including 6 billion tenge ($12.4 million) under contractual obligations in the previous year.
In addition, Yussupov also noted that Kazatomprom is strengthening its focus on research and innovation. A scientific and technological development strategy through 2034 has been adopted, aimed at improving production efficiency, reducing environmental impact, and introducing advanced technologies. Since its IPO in 2018, the company’s market capitalization has increased more than sevenfold.
Following the meeting, the president assigned a number of tasks related to further development of the resource base, expansion of international cooperation, and implementation of social initiatives.
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