State leader extends warm welcome to head of "Kazatomprom" JSC company.
President Tokaev Receives Update on Kazatomprom's Performance and Strategy
Kazakhstani President Kassym-Jomart Tokaev has received a report from Meirjan Yusupov, chairman of the board of JSC "NAC Kazatomprom", detailing the company's key achievements in 2024 and its future development plans, according to Akorda's official report.
In 2024, Kazatomprom's uranium production surpassed 23,000 tons, and group sales reached more than 16,600 tons. The company's consolidated revenue hit a record high of 1.8 trillion tenge, marking a 26% increase from the previous year. Tax payments to the republican budget totaled 720 billion tenge, reflecting a 58% year-on-year growth.
During the meeting, Yusupov informed President Tokaev about the current state of the global uranium market, new contracts for natural uranium concentrate supply, and the progress of investment projects. Notably, the full-scale operation of LLP "Ulbа-TVS" plant, capable of producing 200 tons of low-enriched uranium annually, started in 2024.
The presentation of Kazatomprom's new development strategy for 2025-2034 to Tokaev was another significant event. The strategy focuses on maximizing the utilization of Kazakhstan's mineral and raw material resources. In 2024, the company secured new uranium exploration licenses for promising territories with estimated resources of approximately 170,000 tons.
Yusupov also highlighted memorandums signed with Tajikistan in the area of rare and rare-earth metals processing, France for personnel training in the atomic industry, and agreements with Mongolia and Jordan on joint study of uranium exploration projects in their respective territories.
The socially significant projects undertaken by the atomic holding were also discussed. In 2024, more than 3.7 billion tenge was allocated for these initiatives aimed at regional development and support.
Following the meeting, President Tokaev outlined several tasks aimed at enhancing Kazatomprom's performance and its role in implementing socially important projects. The company, which aspires to strengthen its market leadership during a global nuclear renaissance, is likely to prioritize technological innovation, strategic partnerships, and expansion in the global nuclear fuel market, given the expected steady growth driven by increasing energy demands and concerns over carbon emissions.
In the meeting with President Tokaev, Meirjan Yusupov discussed the company's future development plans, which include maximizing utility of Kazakhstan's mineral resources in the energy sector, particularly focusing on uranium production. Kazatomprom aims to prioritize technological innovation, strategic partnerships, and expansion in the global nuclear fuel market, given the expected growth in the finance sector, driven by increasing energy demands and concerns over carbon emissions.
