The Kazakh state-owned uranium mining company Kazatomprom, the world's largest uranium producer, has announced its plans to cut by about 10% its uranium production in 2026. After undergoing a comprehensive review of the market conditions and its operational progress, the company considers that the current supply and demand balance is insufficient to justify and incentivize the company’s return to full production. Kazatomprom expects to cut its 100% production by 2026 from 32,777 t of U3O8 (as per previous Subsoil Use Agreements) to 29,697 t of U3O8, which represents a decrease of about 3 kt (10%), which would represent a cut of about 5% of the world’s primary supply.
Kazatomprom's production for the first six months of 2025 was 12,242 tU (on a 100% basis), a 13% year-on-year increase. Its whole-year production guidance for 2025 remains unchanged, at 25,000-26,500 tU (100% basis).