The Kazakhstan national nuclear company Kazatomprom increased uranium sales by 3% in the second quarter of 2026, but in the first half of the year the figure decreased by 13%. The company explained the reduction not by a change in the structure of demand, but by the timing of receipt of requests from customers for the supply of products, Forbes.kz reported.
At the same time, production indicators showed growth. In January–June, uranium production at enterprises with Kazatomprom’s participation increased by 9%, to 13.3 thousand tons, and the production volume attributable to the company’s share in joint ventures increased by 10%, to 7.1 thousand tons.
At the same time, sales prices increased: in the second quarter, the company's average transaction price reached $66.61 per pound U₃O₈, which is 14% higher than last year. Kazatomprom attributes the increase in cost to an increase in global spot prices for uranium. The company maintained its production and sales forecast for 2026.
The decline in Kazatomprom's sales volumes in the first half of the year is not a sign of a deterioration in the company's position or a drop in demand for Kazakh uranium. The uranium market has a long-term contractual nature, in which supply volumes can fluctuate significantly depending on the procurement schedules of energy companies. Therefore, the 13% decrease in sales mainly reflects temporary factors associated with the distribution of orders between reporting periods.
A more important indicator is the increase in prices for uranium products and the increase in production volumes. The increase in sales costs shows the continued high interest in nuclear fuel amid the global expansion of nuclear power. Many countries view nuclear generation as a tool for ensuring energy security and reducing carbon emissions, which supports long-term demand for uranium.
For Kazakhstan, Kazatomprom's results are of strategic importance, since the country remains the largest uranium producer in the world and occupies a key position in the global nuclear fuel supply chain. Increased production will allow the company to strengthen its position in the international market, but further development will depend on price stability, currency fluctuations and the ability to adapt to changes in global energy policy.
In addition, increased production creates additional opportunities for the development of related industries in Kazakhstan - from geological exploration and service companies to transport and industrial infrastructure. At the same time, maintaining a balance between export potential and sustainable resource management remains one of the main challenges for the country in the context of growing global demand for nuclear energy.
CentralAsianLIGHT.org
August 3, 2026