According to Ulysmedia.kz, "Rosatom" controls 24% of Kazakhstan's uranium reserves, while 22% are managed by international players from Canada, France, China, and Japan.
Abzal Narymbetov described in his Telegram channel who controls Kazakhstan's uranium reserves. He also reminded that until 2009, the Canadian company Uranium One managed up to 10% of Kazakhstan's uranium resources. "Rosatom," through its subsidiary "Atomredmetzoloto" (ARMZ), acquired a stake in Uranium One and gradually eliminated other investors using various joint ventures and strategic deals. In 2010, thanks to an additional share issue, the Russians already controlled 51% of Uranium One, and in 2013, "Rosatom" completely bought out the company. As of 2023, "Rosatom" became the owner of 49% in the joint venture "Budyonovskoye," whose uranium reserves amount to approximately 114,000 tons. Thus, by the end of 2024, the Russian corporation controlled about 136,000 tons of uranium in Kazakhstan, which accounts for 24% of all the country's reserves, securing "Rosatom's" leading position in the global market.
— This strategic "expansion" has allowed "Rosatom" to strengthen its position in the uranium mining segment since 2007, when it entered Kazakhstan's deposits amid declining domestic reserves. This also enhances its dominance in global uranium enrichment (45-50% of capacity) and the construction of nuclear power plants (the order portfolio exceeds $200 billion over 10 years, with annual export revenue of about $18 billion), making Russia a key player in the nuclear fuel supply chain, — emphasizes Abzal Narymbetov.
Control over uranium deposits in Kazakhstan is exercised by "Kazatomprom," which owns reserves of approximately 300,000 tons (54%). In second place is "Rosatom" through Uranium One, and in third place is the Canadian company Cameco with 10% (56,000 tons). Following them are investors from China (5%, 30,000 tons), France (Orano — 4%, 24,000 tons), and Japan (3%, 17,000 tons).
