Kazatomprom Signs First Uranium Supply Deal with Switzerland

Kazakhstan’s Kazatomprom has signed its first contract to supply natural uranium to Switzerland. The agreement was made with Axpo Power AG and Kernkraftwerk Leibstadt AG (KKL AG), with the uranium designated for use at the Beznau and Leibstadt nuclear power plants. The contract was signed during a visit by Kazatomprom’s delegation to Axpo Power AG’s headquarters in Switzerland. Vladislav Baiguzhin, Chief Commercial Officer of Kazatomprom, described the deal as a significant milestone for the company, expanding its market reach and reinforcing its position as a reliable uranium supplier. He also emphasized that the agreement aligns with Kazatomprom’s strategy to diversify sales channels while supporting global energy security and decarbonization efforts. Dr. Bruno Zimmermann, Head of Nuclear Fuel at Axpo Power AG, underscored the strategic importance of the partnership. He highlighted that nuclear energy plays a crucial role in Switzerland’s low-carbon energy goals and that securing stable fuel supplies remains a top priority. By adding Kazatomprom as a supplier, Axpo and KKL AG are strengthening their ability to ensure a reliable energy supply. Meanwhile, The Times of Central Asia previously reported that Russia’s Uranium One Group, a subsidiary of Rosatom, has withdrawn from its uranium projects in Kazakhstan. This development comes as Kazakhstan is selecting partners to help build its first nuclear power plant. Kazatomprom announced that Uranium One sold its 49.979% share in the Zarechnoye joint venture to SNURDC Astana Mining Company Limited, a firm linked to China’s State Nuclear Uranium Resources Development Co., Ltd. Kazatomprom continues to hold its own 49.979% stake in the project.