Kazakhstan's Uranium Output Up 9% Year-on-Year in First Half of 2026

Kazatomprom, Kazakhstan's largest uranium producer, reported on August 3 that the country's uranium output increased by 9% year-on-year in the first half of 2026.

According to the report, on a 100% basis, uranium oxide (U3O8) production from entities in which the company holds stakes totaled 13,291 tonnes in the first half of this year, up from 12,242 tonnes in the same period of 2025. The 100% basis covers the full production of all entities in which Kazatomprom holds stakes, with a portion of that output potentially attributable to joint venture partners or other third-party shareholders.

On an attributable basis, Kazatomprom's uranium production in the first half of 2026 stood at 7,054 tonnes, up 10% year-on-year. This basis only counts the portion of production attributable to Kazatomprom according to its shareholding ratio.

In terms of prices, Kazatomprom's average realized sales price in the first half of the year rose 13% year-on-year; as of the end of June, the average spot price of U3O8 stood at $86.83 per pound.

Sales data showed a divergent trend. From January to June 2026, the company sold 6,083 tonnes of U3O8, down 13% year-on-year; however, second-quarter sales reached 4,548 tonnes, up 3% year-on-year.

Kazatomprom sells uranium oxide concentrate primarily through long-term contracts. Uranium oxide concentrate is an intermediate product in the process of converting natural uranium into nuclear fuel, and the company sells only a small portion of its products on the spot market.

Kazakhstan's sovereign wealth fund Samruk-Kazyna holds a 75% stake in Kazatomprom. Kazatomprom has been listed on the London Stock Exchange since 2019.