A global uranium deficit — where demand exceeds supply — could emerge by 2030 as new nuclear power plants are built rapidly, according to Meirzhan Yussupov, CEO of Kazakhstan’s Kazatomprom. Yussupov made the remarks during a meeting with President Kassym-Jomart Tokayev.
He said two factors — AI development and rising energy use in data centers — are expected to drive steady uranium demand. Forecasts indicate that rapid nuclear reactor construction after 2030 may lead to a persistent global uranium shortfall.
Yussupov also told Tokayev that Kazakhstan plans to further strengthen its position in the global nuclear industry. Currently, exploration work is underway at six sites covering more than 1,000 square kilometers, he added.
In September, Kazatomprom’s market capitalization surpassed $14 billion, an all-time high. The company’s share price has risen 4.5 times since 2018.
Notably, Kazatomprom Deputy CEO Marat Tulebayev previously said he expects a uranium deficit to arise only by the mid-2030s.
