According to Ulysmedia.kz, "Rosatom" controls 24% of uranium reserves in Kazakhstan, while 22% are under the control of foreign companies from Canada, France, China, and Japan.
In his Telegram channel Energy Analytics, Abzal Narymbetov discussed the distribution of control over uranium reserves. He noted that until 2009, the Canadian company Uranium One managed up to 10% of uranium resources in Kazakhstan.
"Rosatom," through its subsidiary "Atomredmetzoloto" (ARMZ), became a shareholder in Uranium One and gradually pushed out other investors through joint ventures and strategic deals. By 2010, the Russians controlled 51% of Uranium One due to the issuance of new shares, and in 2013, "Rosatom" completely bought out the company. In 2023, "Rosatom" acquired 49% in the joint venture "Budyonovskoye," where uranium reserves are estimated at approximately 114 thousand tons. As a result, by 2024, the Russian state corporation effectively controlled about 136 thousand tons of Kazakhstani uranium, which constitutes 24% of all reserves in the country. It is Kazakhstani uranium that provides "Rosatom" with leadership in the global market.
— This "expansion" has allowed "Rosatom" to strengthen its control over the upstream segment of uranium mining since 2007, when it entered Kazakhstani deposits, amid the depletion of its own reserves. This complements its dominance in global uranium enrichment (45-50% of capacities) and the construction of nuclear power plants (the order portfolio for 10 years exceeds $200 billion, with annual export revenue of about $18 billion), making Russia a key player in the nuclear supply chain, — points out Abzal Narymbetov.
"Kazatomprom" has direct control over deposits with reserves of about 300 thousand tons of uranium (54%). Next is "Rosatom" through Uranium One, and in third place is the Canadian Cameco with 10% (56 thousand tons). Also among the investors are companies from China (5%, 30 thousand tons), France (Orano — 4%, 24 thousand tons), and Japan (3%, 17 thousand tons).
