The existing subsoil use agreement (SUA) for the Akdala deposit in Kazakhstan is with joint venture company JV SMCC LLP, which is 30% owned by Kazatomprom and 70% by Uranium One, a part of Russia’s Rosatom.
In its annual results statement, Kazatomprom said the state regulator had notified it that on the upcoming termination of the subsoil use rights for Akdala it would transfer to the trust management of Kazatomprom
Kazatomprom said: “It is estimated that upon expiration of the SUA, Akdala deposit is expected to have about 1,500 tonnes of remaining reserves that will require continued development. Based on current production rates, continuous mining is required until 2030 to prevent suspension or disruption of technological process. Therefore, the company is exploring the possibility of securing a new SUA for production at Akdala deposit to maintain production capacity and ensure continuity of operations. It is worth mentioning that the terms of the initial contract have been fully performed and settled, and all rights of JV SMCC LLP as the subsoil user under the initial contract have been satisfied.”
On a general update it reported 2025 as a year of “profound achievements” and said one billion pounds of uranium had now been mined in Kazakhstan during its three-decade history.
Meirzhan Yussupov, CEO of Kazatomprom, said: “The global landscape for nuclear energy has reached a new level of maturity, with uranium establishing itself as the cornerstone of national strategies for resource and energy security, backed by an unprecedented level of government support worldwide.
“Major consumers are prioritising physical availability over short-term price concerns, and many are entering into commitments that extend well into the next decade. Despite this momentum, the total level of contracting in 2025 still fell short of actual needs. In this context, the company continues to execute its strategy of geographic diversification. This was evidenced in 2025 by adding Switzerland and the Czech Republic to our customer base, signing a contract with a major Japanese utility, and establishing a new long-term partnership with India.”
Military conflicts in Ukraine and the Middle East had not affected operations or the financial position but the company “continues to constantly monitor international sanctions regimes and packages assessing potential risks … the duration and full impact of capital markets turmoil caused by geopolitical uncertainty and/or commodity price volatility remains to be seen”.
Kazatomprom says it continues to export its products through Russia and along the Trans-Caspian International Transport Route and said, in the statement published on 20 March, that both routes remained fully operational.
Kazakhstan has 14% of the world’s uranium resources and has been the world’s leading uranium producer since 2009. In 2025 Kazakhstan produced about 25,839 tU, which was about 40% of the world’s total.
