With the new Tax Code that took effect in 2026 and related policy changes, Kazakhstan is significantly tightening taxation requirements for mining companies, according to a MINEX Kazakhstan forecast for 2026. The report highlights rising taxes on uranium and gold mining as market prices for the metals increase.
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«The uranium sector is facing particularly aggressive tax increases, reflecting the government’s desire to extract ‘excess profits’ during periods of high commodity prices,» the report states.
The flat 6% mineral extraction tax (MET) rate in effect in 2023 rose to 9% in 2025. In 2026, the tax shifted to a tiered system based on production volume. The MET rate is set at 4% for annual uranium production of up to 500 tons; 6% for 500 to 1,000 tons; 9% for 1,000 to 2,000 tons; 12% for 2,000 to 3,000 tons; 15% for 3,000 to 4,000 tons; and 18% for more than 4,000 tons.
Additional price-based surcharge
An extra surcharge applies if the weighted average price per pound of uranium oxide, U₃O₈, exceeds certain thresholds. Uranium is most commonly sold in this form by Kazatomprom — the world’s largest producer — and other companies; 1 kilogram equals 2.5998 pounds. The surcharge ranges from an additional 0.5% at prices above $70 per pound to 2.5% at prices above $110 per pound.
Impact on large producers
The forecast notes that the structure disproportionately affects large producers, including Kazatomprom’s joint ventures, effectively functioning as a windfall-profits tax.
