Kazatomprom expands global Uranium reach with Swiss supply contract and Jordanian partnership

Kazatomprom, the world’s largest uranium producer, has solidified its international presence with two major agreements: a supply contract with Switzerland’s Axpo Power AG and a strategic memorandum of understanding (MoU) with Jordan Uranium Mining Company (JUMCO). These deals mark a significant step in expanding Kazakhstan’s influence in the nuclear energy sector, reinforcing global supply stability, and fostering long-term partnerships in key markets.

The agreements align with Kazatomprom’s broader objectives of diversifying uranium sales, ensuring a reliable uranium supply, and contributing to energy security for nations transitioning towards low-carbon power generation. With nuclear energy gaining renewed momentum as a sustainable alternative, these deals position Kazatomprom as a central player in shaping the future of the global uranium trade.

What does Kazatomprom’s uranium supply contract with Axpo mean for Switzerland?

Kazatomprom’s first-ever contract with Axpo Power AG and Kernkraftwerk Leibstadt AG (KKL AG) establishes a direct supply of Kazakh natural uranium concentrates to Switzerland’s Beznau and Leibstadt nuclear power plants. The agreement, signed during a high-profile delegation visit to Axpo’s headquarters, represents a strategic uranium partnership aimed at securing Switzerland’s nuclear fuel supply.

Vladislav Baiguzhin, Chief Commercial Officer of Kazatomprom, stated that the deal highlights Kazakhstan’s role as a reliable uranium supplier and reflects the growing demand for alternative sources of nuclear fuel in Europe. He emphasised that the contract aligns with Kazatomprom’s ongoing strategy to expand its sales geography while supporting energy security and decarbonisation efforts in Switzerland.

For Axpo Power AG, securing a contract with the world’s largest uranium producer is a critical step in fuel supply diversification. Dr. Bruno Zimmermann, Head of Nuclear Fuel at Axpo, highlighted the importance of stable and secure uranium procurement, given Switzerland’s commitment to low-carbon energy solutions. He noted that including Kazatomprom as a supplier strengthens the resilience of Switzerland’s nuclear energy sector amid shifting global energy dynamics.

The deal is particularly significant as European utilities actively seek new uranium supply agreements to reduce dependence on traditional sources. With geopolitical factors influencing uranium availability, Kazatomprom’s expansion into Switzerland signals a growing trend of nuclear operators broadening their supplier base to mitigate risks.

How will Kazatomprom’s partnership with JUMCO impact Jordan’s uranium sector?

In a parallel move to expand its market presence, Kazatomprom signed an MoU with Jordan Uranium Mining Company (JUMCO) to explore uranium mining opportunities in Jordan. The agreement was formalised during an official visit by Kazakhstan’s President, Kassym-Jomart Tokayev, to Jordan, reflecting high-level governmental support for the initiative.

Kazatomprom CEO Meirzhan Yussupov underscored the significance of the partnership, stating that it offers an opportunity for global uranium expertise exchange while strengthening Kazakhstan’s strategic position in the industry. He emphasised that engaging in international mining projects aligns with Kazatomprom’s long-term objectives of expanding uranium resource development beyond Kazakhstan’s borders.

The MoU focuses on a joint study to assess Jordan’s uranium deposits, evaluating their geological characteristics and mining feasibility. Particular attention will be given to the potential application of heap leaching mining technology, a method known for its efficiency and lower environmental impact. Sustainability will be a key factor in determining the viability of uranium extraction in Jordan.

JUMCO General Manager Mohammad Al-Shannag highlighted that the partnership could accelerate Jordan’s ambitions to establish a commercial uranium production sector. He stated that working with Kazatomprom would enable JUMCO to leverage technical expertise, adopt best industry practices, and enhance its uranium market positioning.

Beyond uranium extraction, the collaboration has wider implications for Jordan’s economy. The agreement is expected to contribute to infrastructure development, create employment opportunities, and stimulate the local supply chain by engaging regional contractors. For Kazakhstan, the move represents a strategic effort to diversify uranium production while strengthening economic and diplomatic ties with Jordan.

What are the broader implications of these agreements for the uranium market?

Kazatomprom’s deals with Axpo and JUMCO underscore the increasing importance of uranium supply diversification in the global energy landscape. With nuclear energy re-emerging as a cornerstone of low-carbon power generation, securing stable and sustainable uranium sources has become a priority for many nations.

The Swiss contract reflects a broader European trend, where utilities are actively seeking alternative uranium suppliers to ensure long-term fuel security. Kazatomprom’s entry into Switzerland’s nuclear market signals a potential shift in uranium procurement strategies, with European operators looking beyond traditional sources to mitigate risks related to geopolitical tensions and supply disruptions.

The Jordanian partnership, on the other hand, highlights Kazatomprom’s ambitions to expand uranium exploration and mining beyond Kazakhstan. By entering emerging markets such as Jordan, the company is positioning itself as a global uranium development leader, capable of leveraging its industry expertise to support new nuclear economies.

As uranium demand continues to grow, driven by the global push for carbon-neutral energy, Kazatomprom’s expanding market reach places it at the forefront of the industry’s evolving supply dynamics. The company’s ability to secure long-term agreements with key nuclear stakeholders reinforces its status as the world’s leading uranium supplier, poised to capitalise on the resurgence of nuclear power.

What’s next for Kazatomprom in the global uranium sector?

Kazatomprom’s recent agreements with Axpo and JUMCO mark a pivotal moment in its international expansion strategy. The Swiss contract cements its reputation as a trusted uranium supplier in Europe, while the Jordanian MoU opens doors for new mining ventures beyond Kazakhstan.

As nuclear energy gains traction worldwide, Kazatomprom’s proactive approach to securing strategic uranium partnerships positions it as a dominant force in the market. With increasing demand for low-carbon energy solutions, the company’s ability to deliver reliable uranium supply will play a crucial role in shaping the future of the nuclear industry.