Kazatomprom Acknowledges Sanctions-Related Risks as Earnings See Notable Drop
Photo: Kazatomprom.kz
Kazakhstan’s uranium industry remains exposed to geopolitical risks, according to the latest Kazatomprom report, Orda.kz writes.
Earlier this year, the United States imposed sanctions on senior executives of Russia's state uranium corporation, Rosatom.
Official Acknowledgement
Joint ventures were not targeted, but Kazatomprom acknowledged that the risk of potential sanctions spillover remains and has begun preparing defensive measures.
Based on the initial risk assessment and subsequent updates to sanctions programs and lists, an action plan was developed to minimize potential negative consequences. Management will continue to monitor the potential impact of anti-Russian sanctions and take all necessary steps to mitigate risks,
the report notes.
Kazatomprom maintains long-standing cooperation with Russia’s Rosatom through Uranium One and several joint mining ventures, which contribute to production and export logistics — making the sector vulnerable to further sanctions escalation.
Exports and Performance
China accounted for 60% of Kazakh uranium exports in the first nine months of 2025.
The U.S. followed with 10%, and France with 9%.
Kazatomprom's net profit for January–September 2025 amounted to 532.9 billion tenge, a decrease of 28%. The company attributes the profit decline to an 18% decline in the global spot price of uranium and a six percent decrease in the average sales price, as well as restrictions on long-term contracts with fixed price caps. Exchange rate fluctuations and uneven supply distribution also impacted the result.
The company attributed the profit decline to an 18% drop in spot uranium prices, lower average sales prices, contract limitations, currency fluctuations, and uneven deliveries.
Despite this, global interest in new uranium and nuclear projects is rising, the company noted, with major activity in the U.S., China, Russia, the EU, and Africa. Long-term uranium prices have climbed to $83 per pound.
Kazatomprom also recently signed a cooperation agreement with Jordan's JUMCO on the Central Uranium Project, aimed at technology exchange and joint development.
Original Author: Ruslan Loginov
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