Producer · Senior · Uranium · Asia
Last updated 21 June 2026
Data compiled from public filings — information only, not investment advice. AI‑assisted; see methodology.
Portfolio Aggregate · 1 project
Portfolio mode — asset rows are for context only; tab totals use the company aggregation.
Kazatomprom Consolidated
Portfolio · Operating
Project information
As at 31 December 2025
Description
As at 31 December 2025
Group rollup for NAC Kazatomprom JSC, the world's largest natural uranium producer (~21% of global primary output in proportion to ownership; Kazakhstan operations in which it participates ~39% of global output). All mining uses in-situ recovery (ISR) across the Shu-Sarysu and Syrdarya uranium provinces: 2 wholly owned subsidiaries developing 6 deposits and 12 partially owned mining companies developing 21 deposits, plus the Ulba Metallurgical Plant (NFC and rare metals). Reserves per SRK Consulting JORC CPR dated 17 Jan 2026. 'Value over Volume' strategy; 2025 sales fully in U3O8 form; sales portfolio of spot-linked long-term contracts. 2026: production 27,500-29,000 tU (100%), Group sales 19,500-20,500 tU, C1 $23.50-25.00/lb, AISC $35.00-36.50/lb; production growth driven by JV Budenovskoye ramp-up (100% of 2024-2026 output committed under a market-related offtake).
Portfolio Aggregate
Multiple effective dates · inclusive
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Reserves & resources — detail
As at 31 December 2025
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Operating · 14 projects
JV Inkai LLP
Asset · Operating · Ownership 60%
Project information
As at 31 December 2025
Description
As at 31 December 2025
ISR uranium mining joint venture (Kazatomprom 60%; Cameco 40%) at the Inkai deposit, Sozak district, Turkestan region. Attributable share of production is determined per the Implementation Agreement: 1,797 tU in 2025 (2024: 1,619 tU).
Mining metrics
Multiple effective dates · exclusive
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Reserves & resources — detail
As at 31 December 2025
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Karatau LLP
Asset · Operating · Ownership 50%
Project information
As at 31 December 2025
Description
As at 31 December 2025
ISR uranium mining joint venture (Kazatomprom 50%; Uranium One 50%) at the Budenovskoye deposit Site 2, Shu-Sarysu province; the Group's largest single producing entity in 2025.
Mining metrics
Multiple effective dates
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Reserves & resources — detail
As at 31 December 2025
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JV KATCO LLP
Asset · Operating · Ownership 49%
Project information
As at 31 December 2025
Description
As at 31 December 2025
ISR uranium mining joint venture (Orano 51%; Kazatomprom 49%) at the Moinkum and Tortkuduk deposits, Turkestan region. Entered commercial operation at South Tortkuduk in 2024 and ramped up strongly in 2025 (+56% y/y); the South Tortkuduk project (separate row) aims to maintain production at up to 4,000 tonnes.
Mining metrics
Multiple effective dates
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Reserves & resources — detail
As at 31 December 2025
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JV South Mining Chemical Company LLP
Asset · Operating · Ownership 30%
Project information
As at 31 December 2025
Description
As at 31 December 2025
ISR uranium mining joint venture (Kazatomprom 30%; Uranium One 70%) operating the Akdala and South Inkai deposits in the Shu-Sarysu province.
Mining metrics
Multiple effective dates
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Reserves & resources — detail
As at 31 December 2025
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Kazatomprom-SaUran LLP
Asset · Operating
Project information
As at 31 December 2025
Description
As at 31 December 2025
Wholly owned ISR uranium mining subsidiary operating in the Turkestan region; one of two 100%-owned subsidiaries developing six uranium deposits. Developing the Inkai Site No. 3 project (separate row). In 2024 consolidated 100% of Taiqonyr Qyshqyl Zauyty (TQZ) before selling a 60% stake to Ballestra's local partner to advance a new sulphuric acid plant. Won the Grand Prix in the nationwide Eńbek occupational safety competition.
Mining metrics
Multiple effective dates
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Reserves & resources — detail
As at 31 December 2025
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JV Budenovskoye LLP
Asset · Operating · Ownership 51%
Project information
As at 31 December 2025
Description
As at 31 December 2025
ISR uranium mining company 51% owned by Kazatomprom and consolidated as a subsidiary from 1 January 2024 (control via majority voting rights; KZT 295,719 million net gain on business combination). Entered commercial operation in 2024 and continued ramp-up in 2025 (+96% y/y) in line with its mine development plan; 100% of 2024-2026 production is fully committed under an offtake contract at market-related terms. Constructing a 6,000 tU/year processing complex (separate row).
Mining metrics
Multiple effective dates · exclusive
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Reserves & resources — detail
As at 31 December 2025
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Turanium LLP
Asset · Operating · Ownership 50%
Project information
As at 31 December 2025
Description
As at 31 December 2025
ISR uranium mining joint venture (Kazatomprom 50%), former JV Khorasan-U LLP, operating the North Kharasan deposit in the Syrdarya province.
Mining metrics
Multiple effective dates
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Reserves & resources — detail
As at 31 December 2025
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MC ORTALYK LLP
Asset · Operating · Ownership 51%
Project information
As at 31 December 2025
Description
As at 31 December 2025
ISR uranium mining company 51% owned by Kazatomprom (49% China General Nuclear), operating the Central Mynkuduk and Zhalpak deposits; constructing the Zhalpak surface processing complex (separate row).
Mining metrics
Multiple effective dates · exclusive
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Reserves & resources — detail
As at 31 December 2025
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JV Akbastau JSC
Asset · Operating · Ownership 50%
Project information
As at 31 December 2025
Description
As at 31 December 2025
ISR uranium mining joint venture (Kazatomprom 50%; Uranium One 50%) at Budenovskoye deposit Sites 1, 3 and 4 in the Shu-Sarysu province.
Mining metrics
Multiple effective dates · exclusive
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Reserves & resources — detail
As at 31 December 2025
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RU-6 LLP
Asset · Operating
Project information
As at 31 December 2025
Description
As at 31 December 2025
Wholly owned ISR uranium mining subsidiary operating deposits in the Syrdarya uranium province; one of two 100%-owned subsidiaries developing six uranium deposits.
Mining metrics
Multiple effective dates · exclusive
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Reserves & resources — detail
As at 31 December 2025
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APPAK LLP
Asset · Operating · Ownership 65%
Project information
As at 31 December 2025
Description
As at 31 December 2025
ISR uranium mining company 65% owned by Kazatomprom, operating the West Mynkuduk deposit in the Shu-Sarysu province.
Mining metrics
Multiple effective dates
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Reserves & resources — detail
As at 31 December 2025
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Baiken-U LLP
Asset · Operating · Ownership 52.5%
Project information
As at 31 December 2025
Description
As at 31 December 2025
ISR uranium mining company 52.5% owned by Kazatomprom, operating the Kharasan-2 site in the Syrdarya province.
Mining metrics
Multiple effective dates · exclusive
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Reserves & resources — detail
As at 31 December 2025
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Semizbay-U LLP
Asset · Operating · Ownership 51%
Project information
As at 31 December 2025
Description
As at 31 December 2025
ISR uranium mining company 51% owned by Kazatomprom, operating the Semizbay (North Kazakhstan province) and Irkol deposits.
Mining metrics
Multiple effective dates
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Reserves & resources — detail
As at 31 December 2025
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JV ZARECHNOYE JSC
Asset · Operating · Ownership 49.98%
Project information
As at 31 December 2025
Description
As at 31 December 2025
ISR uranium mining joint venture (Kazatomprom 49.98%) at the Zarechnoye deposit in the Syrdarya province, South Kazakhstan.
Mining metrics
Multiple effective dates
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Reserves & resources — detail
As at 31 December 2025
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Construction · 3 projects
South Tortkuduk (Moinkum)
Asset · Construction · Ownership 49%
Project information
As at 31 December 2025
Description
As at 31 December 2025
Implementation of the South Tortkuduk project at the Moinkum deposit by JV KATCO LLP (Orano 51% / Kazatomprom 49%), with the objective of maintaining KATCO uranium production at up to 4,000 tonnes per year. Supported KATCO's 56% production ramp-up in 2025 after entering commercial operation in 2024.
Mining metrics
As at 31 December 2025
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Budenovskoye Processing Complex (6,000 tU/year)
Asset · Construction · Ownership 51%
Project information
As at 31 December 2025
Description
As at 31 December 2025
Construction of a processing complex at the Budenovskoye deposit with 6,000 tU/year capacity for production of natural uranium concentrate (U3O8). Phase I start-up complex (2024-2025) is in implementation; Phase II start-up complex (2025-2026) is in the definition stage. Expected to create ~300 jobs during construction and ~700 in operation. Part of the 2026 capex program (~KZT 121 bn combined with Zhalpak and Inkai-3 development).
Mining metrics
As at 31 December 2025
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Zhalpak Surface Processing Complex
Asset · Construction · Ownership 51%
Project information
As at 31 December 2025
Description
As at 31 December 2025
Construction of a surface processing complex at the Zhalpak deposit (MC ORTALYK LLP, 51% Kazatomprom) with 900 tU/year capacity, maintaining output of sulphuric-acid-based uranium-bearing pregnant eluate to support downstream processing. Implementation timeline 2022-2027; implementation in progress; ~260 operational jobs expected. Exploration at the Eastern area of the Zhalpak deposit is part of the 2025-2034 mineral resource base replenishment strategy.
Mining metrics
As at 31 December 2025
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Development · 1 project
Inkai Site No. 3 Development
Asset · Development
Project information
As at 31 December 2025
Description
As at 31 December 2025
Development of uranium mining at Site No. 3 of the Inkai deposit in the Sozak district of the Turkestan region by Kazatomprom-SaUran LLP; establishes the production and social infrastructure required for efficient development of the deposit and fulfilment of contractual obligations. Implementation timeline 2025-2030; currently in the definition stage.
Mining metrics
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Processing facilities · 1 project
Ulba Metallurgical Plant
Asset · Fuel Fabrication · Operating
Project information
As at 31 December 2025
Description
As at 31 December 2025
Nuclear fuel cycle and rare metals plant in Ust-Kamenogorsk, East Kazakhstan, wholly owned by Kazatomprom (UMP segment). Produces UO2 ceramic powder, fuel pellets (including tolling), dioxide from scraps, and beryllium, tantalum and niobium products; hosts Ulba-FA LLP fuel assembly production and ULBA-CHINA Co Ltd sales channel. In 2025 UMP secured exploration licenses for solid minerals. 2025 sales incl. tolling: 257.3 t fuel pellets, 27.2 t dioxide from scraps, 732.97 t beryllium products, 109.26 t tantalum products, 28.43 t niobium products.
Processing facilities
Multiple effective dates
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Assumptions
- The projects listed here reflect the information captured in this workspace and are not necessarily a complete picture of the company's portfolio. For authoritative figures, refer to the company's official filings.
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How to read this tab
- The tables below list unit codes most often used in the Energy Metals sector for this company. MetalPilot stores contained metal or product in the codes below; grade and tonnage use separate fields. In side-by-side comparison views (stock page Portfolio tab, watchlist By sector), heterogeneous source units are converted to each commodity's preferred display unit (for example Moz Au, kt Cu, MMbbl oil) before summing; the same canonical codes appear in project data.
What the Portfolio tab shows
- The Portfolio tab presents a project-level view of the company's reported assets, built from publicly disclosed information (technical reports, annual filings, MD&A, investor presentations, MRMR / R&R statements, NI 43-101 / NI 51-101 / SEC S-K 1300 / SEC S-K 1200 / JORC / SAMREC / PERC / PRMS / COGEH filings, and similar primary sources).
- Figures are grouped by project type (mining, oil & gas, royalty, stream, processing facility, development, portfolio aggregate) and are shown alongside the headline reserve base, headline production, headline grade / quality, cost benchmarks, estimated lifetime, commercial terms (for royalties / streams), operational capacity (for processing) and a single-figure rating where the underlying data supports one.
- Each data table on the Portfolio tab is followed by ONE Assumptions footnote describing the modelling choices for that table; KPI stat-card assumptions appear in the bottom block instead. All legal and section disclaimers are merged into a single disclaimer list at the bottom of the Portfolio tab.
Concepts in your sector — Energy metals (uranium)
- U₃O₈ vs U metal. Reserves are usually in lb or t U₃O₈; multiply by ~0.848 for U metal. Fuel-cycle contracts may quote kgU as UF₆ (schema: kgu).
- % U₃O₈ vs ppm U₃O₈. Athabasca grades can exceed 10%; ISR deposits often 0.05–0.5%. The schema preserves the source unit.
- ISR vs conventional. ISR tonnage is often m³ leach solution, not rock mass — cost structure differs from underground/open-pit.
Portfolio tab — table guide
- Portfolio KPIs — company-level headline numbers aggregated from the featured projects (project counts, attributable annual production by commodity, attributable resource base by commodity, last filing date, operator share). USD value lines multiply attributable volumes by the resolved snapshot price.
- Portfolio snapshot — one-screen summary of the portfolio: counts by type and status, country mix, reporting standards used, operator share, primary commodity, attributable annual production summary and attributable resource base summary.
- Mining — one row per mining project, with columns for project name, location, status, primary commodities, production (with rating), reserves & resources (with rating), grade (with rating), costs and estimated lifetime. Multi-commodity projects emit one summary row per commodity.
- Royalty — one row per royalty interest held by the company. Columns cover the underlying project, operator, commodity, commercial terms (rate, type, cap, area-of-interest), attributable production, attributable reserves and estimated lifetime.
- Stream — one row per metal stream held by the company. Each row shows the underlying project, the streamed commodity, the headline stream percentage, the ongoing per-ounce / per-tonne payment, and attributable production / reserves.
- Processing facilities — one row per midstream / processing facility (pipeline, fractionator, LNG train, storage cavern, refinery, smelter, mill, heap-leach pad, CPP, etc.). Columns include nameplate capacity, contracted capacity, feedstock commodities and operational footprint.
- Development — projects in development status or in a pre-production lifecycle phase. The production column is re-labelled 'Targeted production (rating)' to highlight that the figures are plans, not actuals.
- Portfolio Aggregate — a single company-level row used when the company itself publishes a portfolio rollup (e.g. company-wide 2P barrels across all properties).
- Reserves & resources — detail — a leaf-category pivot showing every reserve and resource category disclosed across the projects.
- NPV (grouped) — all NPV rows captured from the filings, grouped by commodity, resource category, development status and pricing case. Each NPV figure is shown with its discount rate, basis (before-tax / after-tax), currency and value scale.
Ownership / Working interest
- Ownership percentage means the company's working-interest share of the asset: its slice of the project before royalties and before government take. It is shown on a 0–100 scale.
- Mines, oil and gas fields, and processing facilities — this is how much of the asset belongs to the company under that working-interest idea. One hundred percent is fully owned; a lower number usually means partners share the rest.
- Royalties and streaming agreements — the percentage is often not the story; what matters economically is usually the royalty or stream rate, shown elsewhere alongside these figures.
- Oil and gas — read this as gross working interest only. Do not treat it as net production or net wells after royalties; when filings distinguish gross from net, that shows up in how the resource numbers themselves are labelled.
- Below 100% — the short summary for each project names other owners and their stakes when the source says who they are.
- NRI vs WI (O&G). Working interest (WI) is the obligation to pay a share of costs; net revenue interest (NRI) is the share of revenue after royalties and overriding-royalty interests. A 100% WI well rarely produces 100% NRI; typical onshore U.S. NRI is 75–87.5% of WI depending on the lease royalty.
- Operator vs non-operator. The operator runs day-to-day operations; non-operating partners pay their WI share of costs but do not run the asset. Some Portfolio rows show operator share where disclosed.
Unit codes, conversion cheat sheets, cost benchmarks (AISC, C1–C3), reporting standards (NI 43-101, JORC, SEC S-K 1300) and resource/reserve category definitions live in the full terminology & units reference.
Each table lists the numeric band for scores 1–5 (production and resource base; grade where applicable for mining commodities) using the same thresholds as project rating stat cards. Only commodities that appear on featured projects for this document are listed.
Uranium
Copper uses kt Cu bands (Mlb Cu when lb-scale copper resources appear on featured projects). Lithium grade uses hard-rock % Li₂O bands unless brine-style extraction or brine units appear on featured projects.
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