Shareholders of Kazakhstan’s state-owned uranium giant, Kazatomprom, have approved a transaction with India’s Department of Atomic Energy, according to the company’s disclosed corporate filings.
Long-term supply agreement
The documents indicate that the deal is a long-term contract for the purchase and sale of natural uranium concentrates. Under the agreement, Kazatomprom will act as the seller, while India’s Department of Atomic Energy will be the buyer.
Limited disclosure on terms
Key terms of the agreement, including pricing and duration, have not been disclosed. However, the company noted that the transaction involves assets valued at more than 50% of Kazatomprom’s total book value.
Estimated scale of the deal
According to Kazatomprom’s 2025 financial statements, total assets stood at 4.02 trillion tenge. This implies that the value of uranium covered by the agreement exceeds 2.01 trillion tenge (approximately $4.2 billion).
In 2025, the company’s consolidated uranium production totaled 18,494 tons.
Based on May uranium futures prices of $85.40 per pound and the estimated minimum transaction value, the contract could involve deliveries of roughly 110,000 tons of uranium to India over time.
