Toqayev Meets with Kazatomprom Head to Discuss Uranium Market and Industry Outlook

On October 16, President Qasym-Jomart Toqayev met with Meirzhan Yusupov, Chair of the Board of the National Atomic Company Kazatomprom, Orda.kz reports.

According to Aqorda, Yusupov briefed the president on the company’s performance over the first three quarters, as well as on the current situation in the global uranium market, developments in the nuclear energy sector, and Kazatomprom’s plans to strengthen Kazakhstan’s leadership in the industry.

The head of the company noted that demand for Kazakh uranium is expected to rise due to the rapid growth of artificial intelligence technologies and the construction of large data centers, which require significant amounts of electricity. In addition, many countries have launched new nuclear power plant projects, which could further drive up interest in nuclear energy and lead to higher uranium prices.

According to forecasts, with the accelerated construction of new nuclear reactors after 2030, a structural uranium deficit could form on the global market, Meirzhan Yusupov reported to the president.

Yusupov also highlighted Kazatomprom’s main achievements in 2025:

• Operations began at two new sites
• Investments were made in rare and rare-earth metal production technologies
• Market capitalization reached a record $14 billion in September

President Toqayev instructed Kazatomprom to continue expanding its resource base, strengthening international cooperation, and participating in socially significant projects.

Kazatomprom was earlier given exclusives rights in uranium mining in Kazakhstan, after the Majilis approved corresponding amendments to the Subsoil Code.

Original Author: Nikita Drobny