World's largest uranium producer also plans to start producing nuclear fuel

Kazakhstan has long been the world's leading uranium producer and supplier. However, the country still has no nuclear power plants in operation and does not produce nuclear fuel from its domestic uranium. That is expected to change in the future.

Uranium mining is only the first step in ensuring the operation of nuclear power plants, as this raw material must then be processed into nuclear fuel. Nuclear fuel supplies are therefore a strategic matter for many countries, while the number of suppliers on the global market is limited. Diversifying nuclear fuel supply options has become even more important in recent years following the outbreak of the war in Ukraine.

There is a nearby example: the Czech energy group ČEZ began this process years ago. This year, the Czech nuclear power plants, which were previously supplied with fuel from Russia, received their first deliveries of new fuel from Westinghouse. Other countries are also diversifying their supplies, including Bulgaria, which wants to break free from its dependence on Russian fuel supplies.

Kazakhstan could become another player on the global market in the coming years. The country's Agency for Atomic Energy announced plans to start producing nuclear fuel domestically last week, according to Reuters. Kazakhstan has extensive uranium reserves, estimated at 15 % of the global total. In terms of reserves, the country ranks second behind Australia, but it is the world's leading producer.

The country has begun work on its first nuclear power plant

In addition to starting domestic nuclear fuel production, Kazakhstan is also expected to get its first nuclear power plant in the future. According to Reuters, more than 71 % of participants voted in favour of building a nuclear power plant in a referendum last October. Last Friday, Russia's Rosatom began work on constructing Kazakhstan's first nuclear power plant. By 2035, the country plans to have 2,4 GW of installed nuclear capacity.