Kazatomprom plans uranium supply deals with China and Russia

Kazatomprom, the world’s largest uranium producer, is seeking shareholder approval for major supply agreements with entities in China and Russia.

The company has reached a draft spot-term contract with China’s State Nuclear Uranium Resource Development Company Limited, a subsidiary of State Power Investment Corporation Limited. This material is slated for physical delivery to the Alashankou railway station in China. Additionally, Kazatomprom has agreed to a supply contract with Russia’s Uranium One Group JSC, a subsidiary of Rosatom, with deliveries destined for the Siberian Chemical Plant.

Due to confidentiality requests from the buyers, specific details regarding pricing, volumes, and delivery schedules have not been disclosed, though the company stated the terms comply with current market conditions. Shareholders will participate in absentee voting from September 22 through October 6, 2026, with results expected on October 7.

These developments follow Kazatomprom’s first-half 2026 results, which reported a 9% year-over-year increase in uranium production. While consolidated sales volumes saw a slight 1% dip, the company’s group average realized uranium price rose 16% to $67.88 per pound.