Wedoany.com Report-Aug. 25, Kazatomprom, Kazakhstan’s national atomic company, announced a 10% uranium production cut for 2026, citing insufficient market incentives. Production will decrease from 32,777 tU (85 million pounds U3O8) to 29,697 tU, mainly at JV Budenovskoye, reducing global supply by 5%. CEO Meirzhan Yussupov stated: “As the world’s largest producer and seller of natural uranium, Kazatomprom fully recognises the critical role the Company has in supporting the global energy transition. We remain committed to delivering long-term value to all stakeholders.”

The company is prioritizing exploration to sustain its global leadership. Yussupov noted: “Despite the volatility in the spot uranium market and the broader capital markets, some of which may be due to uncertainty brought by the tariff wars, uranium long-term price has remained stable at 80 US dollars per pound proving that fundamentals remain strong.” Kazatomprom will use a 20% flexibility allowance under 2026 Subsoil Use Agreements for in-situ leach mining, with stable sulphuric acid supplies expected.

With strong inventories, Kazatomprom will meet delivery commitments. Kazakhstan’s planned nuclear plants could demand 72,000 tU, potentially redirecting production domestically. First-half 2025 production was 12,242 tU, up 13%, with 2025 guidance unchanged at 25,000–26,500 tU.