Kazakhstan’s state-owned Kazatomprom, the world’s largest uranium miner, is strategically increasing its production while prioritising long-term value over immediate volume, even as uranium prices soar. The company is enhancing exploration efforts both domestically and internationally to secure its production capabilities for the future. Notably, Kazatomprom’s sales to Asia have surged, accounting for 56% of its sales in 2025, driven by significant long-term contracts with state-owned utilities in the region.
In an interview at the World Nuclear Symposium in London, Dastan Kosherbayev, Chief Strategy and International Development Officer, elaborated on Kazatomprom’s approach to navigating the evolving market landscape. Despite the increasing demand for uranium—fueled by the expansion of nuclear reactors and the rise of AI power requirements—Kazatomprom is committed to a disciplined production strategy. This approach ensures that supply aligns closely with actual demand, avoiding the pitfalls of oversaturation in the market.
To bolster its geopolitical positioning, Kazatomprom has ramped up alternative shipping routes, with up to 65% of its Western-bound shipments now using the Trans-Caspian ‘Middle Corridor’ to circumvent reliance on Russian routes. This strategic pivot not only secures deliveries to Western utilities but also enhances the company’s operational resilience.
Kazakhstan, which already contributes approximately 40% of global uranium production, is also focusing on expanding its nuclear fuel cycle capabilities. The company’s Development Strategy for 2025–2034 aims to integrate the entire nuclear fuel chain within Kazakhstan, including conversion and enrichment processes. While these initiatives are seen as lucrative, Kazatomprom is cautious about expanding output, ensuring that it does so without compromising on quality or facing technological and geopolitical barriers.
Additionally, Kazatomprom is exploring the potential for extracting high-value rare earth elements, such as scandium, from its mining operations, although natural uranium remains the primary revenue driver, accounting for 90% of its income. This dual focus on uranium and rare earth elements reflects a broader trend in the mining industry towards diversification and value addition, positioning Kazatomprom as a key player in the future of nuclear energy and resource extraction.
Kazatomprom is also actively participating in the 70th IAEA General Conference in Vienna, showcasing Kazakhstan’s advancements in the nuclear industry and engaging in bilateral talks with international partners. The conference serves as a platform for strengthening dialogue and cooperation in the nuclear sector, highlighting Kazakhstan’s commitment to the safe and peaceful use of nuclear energy.
