Kazakhstan’s national nuclear company Kazatomprom is negotiating a long-term uranium supply agreement with India as part of efforts to expand its presence in key global markets. The announcement was made by the company’s CEO, Meirzhan Yussupov, during a meeting with President Kassym-Jomart Tokayev, according to a statement published on the presidential administration’s website.
The potential contract forms part of Kazatomprom’s development strategy for 2025-2034, which focuses on diversifying export destinations and strengthening the company’s competitive position. In 2025, the company has already concluded supply agreements with several international energy firms, including Switzerland’s Axpo Power AG, the Czech Republic’s ČEZ Group and Japan’s Kansai Electric Power Co.
Kazakhstan remains the world’s largest producer of uranium, accounting for roughly 21% of global output. Total production in the country reached 25,800 tons last year, with 13,500 tons generated by Kazatomprom’s own projects. The company’s sales volumes rose by 11% to 18,500 tons.
Kazatomprom is also expanding its resource base. Its exploration portfolio includes six new prospective sites covering more than 1,000 square kilometers. Investment in geological exploration through 2030 is projected at between $155 million and $176 million.
The company has placed increased emphasis on research and technological development, adopting a strategy through 2034 aimed at improving mining efficiency, reducing environmental impact, and introducing new production solutions.
Since its initial public offering in 2018, Kazatomprom’s market capitalization has increased more than seven times, reflecting stronger investor interest in the uranium sector amid rising global demand for nuclear energy.
The company also continues to invest in social initiatives in the regions where it operates. In 2025, more than $22 million was allocated to regional development projects, including about $12.5 million provided under contractual obligations.
The Times of Central Asia previously reported that Kazakhstan had amended its Subsurface Use Code, increasing the state’s regulatory role in the uranium industry and reinforcing Kazatomprom’s position in the sector.
