Jun 21, 2026
Kazatomprom, the world’s largest uranium producer, operates under a unique set of pressures that define its corporate strategy. According to a recent article on Mining.com, the company’s headquarters in Astana displays the spot price of uranium in its lobby rather than its own share price, signaling a focus on the broader market it serves rather than quarterly stock performance.Kazatomprom mines roughly 40% of the world’s uranium, primarily through low-cost in-situ recovery, which dissolves uranium underground and pumps it to the surface without traditional mining pits or shafts. Since its 2018 listing on the London Stock Exchange and the Astana International Exchange, the company has pursued a value-over-volume strategy, deliberately holding back supply to avoid flooding the market with cheap uranium. This discipline has been rewarded, with the London-listed stock rising approximately sevenfold since the initial public offering.The company answers to three distinct stakeholders: the market, with its disclosure rules and shareholders; the Kazakh state, which owns about three-quarters of the company through the sovereign wealth fund Samruk-Kazyna; and the non-proliferation treaty regime that governs all nuclear material. Meirzhan Yussupov, who became chief executive in 2023 after serving as CFO, navigates these competing demands. During an interview, Yussupov explained that the company’s value-over-volume strategy aims to create value for stakeholders, future generations, and the country, and he expressed confidence that there will be enough market space for everyone given the nuclear renaissance and potential demand from AI data centers.Regarding expansion downstream in the nuclear fuel cycle, Yussupov indicated that Kazatomprom has a dream of having the entire fuel cycle within Kazakhstan, but noted that enrichment is more strategic and difficult due to non-proliferation restrictions, with only the five permanent UN Security Council members having access to those technologies. He added that as a London-listed company, Kazatomprom cannot enter or invest in a project regardless of financial numbers unless the payback period, internal rate of return, and net present value are sufficient.Yussupov also described Kazatomprom’s role as an example for investing in Kazakhstan, pointing to the sevenfold share price increase since listing as evidence of a stable legislative environment and strong investor protections. He noted that the company is listed on the Astana International Exchange, which operates under common law familiar to Western investors. When asked about Western misunderstandings of Kazakhstan, Yussupov commented that many people in the US conflate Kazakhstan with Pakistan and Afghanistan, and that the country’s size is often underestimated. He also mentioned that direct international flights have become longer due to restrictions on flying over Russia, with a flight to Frankfurt now taking eight hours instead of five.
1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
REPORT DESCRIPTION
RESEARCH METHODOLOGY AND THE AI PLATFORM
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
KEY FINDINGS
MARKET TRENDS This Chapter is Available Only for the Professional EditionPRO
3. MARKET OVERVIEW
Understanding the Current State of The Market and its Prospects
MARKET SIZE: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
CONSUMPTION BY COUNTRY: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
MARKET FORECAST TO 2035
4. MOST PROMISING PRODUCTS FOR DIVERSIFICATION
Finding New Products to Diversify Your Business
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
BEST-SELLING PRODUCTS
MOST CONSUMED PRODUCTS
MOST TRADED PRODUCTS
MOST PROFITABLE PRODUCTS FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
TOP COUNTRIES TO SOURCE YOUR PRODUCT
TOP PRODUCING COUNTRIES
TOP EXPORTING COUNTRIES
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Export
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
TOP CONSUMING MARKETS
UNSATURATED MARKETS
TOP IMPORTING MARKETS
MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
PRODUCTION VOLUME AND VALUE: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
PRODUCTION BY COUNTRY: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
8. IMPORTS
The Largest Import Supplying Countries
IMPORTS: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
IMPORTS BY COUNTRY: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
IMPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
9. EXPORTS
The Largest Destinations for Exports
EXPORTS: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
EXPORTS BY COUNTRY: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
EXPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2025) AND FORECAST (2026–2035)
10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
11. COUNTRY PROFILES
The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition
PRO
11.1United StatesMarket SizeProductionImportsExports11.2ChinaMarket SizeProductionImportsExports11.3JapanMarket SizeProductionImportsExports11.4GermanyMarket SizeProductionImportsExports11.5United KingdomMarket SizeProductionImportsExports11.6FranceMarket SizeProductionImportsExports11.7BrazilMarket SizeProductionImportsExports11.8ItalyMarket SizeProductionImportsExports11.9Russian FederationMarket SizeProductionImportsExports11.10IndiaMarket SizeProductionImportsExports11.11CanadaMarket SizeProductionImportsExports11.12AustraliaMarket SizeProductionImportsExports11.13Republic of KoreaMarket SizeProductionImportsExports11.14SpainMarket SizeProductionImportsExports11.15MexicoMarket SizeProductionImportsExports11.16IndonesiaMarket SizeProductionImportsExports11.17NetherlandsMarket SizeProductionImportsExports11.18TurkeyMarket SizeProductionImportsExports11.19Saudi ArabiaMarket SizeProductionImportsExports11.20SwitzerlandMarket SizeProductionImportsExports11.21SwedenMarket SizeProductionImportsExports11.22NigeriaMarket SizeProductionImportsExports11.23PolandMarket SizeProductionImportsExports11.24BelgiumMarket SizeProductionImportsExports11.25ArgentinaMarket SizeProductionImportsExports11.26NorwayMarket SizeProductionImportsExports11.27AustriaMarket SizeProductionImportsExports11.28ThailandMarket SizeProductionImportsExports11.29United Arab EmiratesMarket SizeProductionImportsExports11.30ColombiaMarket SizeProductionImportsExports11.31DenmarkMarket SizeProductionImportsExports11.32South AfricaMarket SizeProductionImportsExports11.33MalaysiaMarket SizeProductionImportsExports11.34IsraelMarket SizeProductionImportsExports11.35SingaporeMarket SizeProductionImportsExports11.36EgyptMarket SizeProductionImportsExports11.37PhilippinesMarket SizeProductionImportsExports11.38FinlandMarket SizeProductionImportsExports11.39ChileMarket SizeProductionImportsExports11.40IrelandMarket SizeProductionImportsExports11.41PakistanMarket SizeProductionImportsExports11.42GreeceMarket SizeProductionImportsExports11.43PortugalMarket SizeProductionImportsExports11.44KazakhstanMarket SizeProductionImportsExports11.45AlgeriaMarket SizeProductionImportsExports11.46Czech RepublicMarket SizeProductionImportsExports11.47QatarMarket SizeProductionImportsExports11.48PeruMarket SizeProductionImportsExports11.49RomaniaMarket SizeProductionImportsExports11.50VietnamMarket SizeProductionImportsExports
LIST OF TABLES
Key Findings In 2025
Market Volume, In Physical Terms: Historical Data (2012–2025) and Forecast (2026–2035)
Market Value: Historical Data (2012–2025) and Forecast (2026–2035)
Per Capita Consumption, by Country, 2022–2025
Production, In Physical Terms, By Country: Historical Data (2012–2025) and Forecast (2026–2035)
Imports, In Physical Terms, By Country: Historical Data (2012–2025) and Forecast (2026–2035)
Imports, In Value Terms, By Country: Historical Data (2012–2025) and Forecast (2026–2035)
Import Prices, By Country: Historical Data (2012–2025) and Forecast (2026–2035)
Exports, In Physical Terms, By Country: Historical Data (2012–2025) and Forecast (2026–2035)
Exports, In Value Terms, By Country: Historical Data (2012–2025) and Forecast (2026–2035)
Export Prices, By Country: Historical Data (2012–2025) and Forecast (2026–2035)
LIST OF FIGURES
Market Volume, In Physical Terms: Historical Data (2012–2025) and Forecast (2026–2035)
Market Value: Historical Data (2012–2025) and Forecast (2026–2035)
Consumption, by Country, 2025
Market Volume Forecast to 2035
Market Value Forecast to 2035
Market Size and Growth, By Product
Average Per Capita Consumption, By Product
Exports and Growth, By Product
Export Prices and Growth, By Product
Production Volume and Growth
Exports and Growth
Export Prices and Growth
Market Size and Growth
Per Capita Consumption
Imports and Growth
Import Prices
Production, In Physical Terms: Historical Data (2012–2025) and Forecast (2026–2035)
Production, In Value Terms: Historical Data (2012–2025) and Forecast (2026–2035)
Production, by Country, 2025
Production, In Physical Terms, by Country: Historical Data (2012–2025) and Forecast (2026–2035)
Imports, In Physical Terms: Historical Data (2012–2025) and Forecast (2026–2035)
Imports, In Value Terms: Historical Data (2012–2025) and Forecast (2026–2035)
Imports, In Physical Terms, By Country, 2025
Imports, In Physical Terms, By Country: Historical Data (2012–2025) and Forecast (2026–2035)
Imports, In Value Terms, By Country: Historical Data (2012–2025) and Forecast (2026–2035)
Import Prices, By Country: Historical Data (2012–2025) and Forecast (2026–2035)
Exports, In Physical Terms: Historical Data (2012–2025) and Forecast (2026–2035)
Exports, In Value Terms: Historical Data (2012–2025) and Forecast (2026–2035)
Exports, In Physical Terms, By Country, 2025
Exports, In Physical Terms, By Country: Historical Data (2012–2025) and Forecast (2026–2035)
Exports, In Value Terms, By Country: Historical Data (2012–2025) and Forecast (2026–2035)
Export Prices, By Country: Historical Data (2012–2025) and Forecast (2026–2035)