Kazakhstan, the world’s leading uranium producer, is set to capitalise on a growing nuclear power renaissance, according to industry executives at the PDAC 2025 conference in Toronto on March 2.

The country, which contributed 38 per cent of global uranium output in 2024, is eyeing significant expansion in the nuclear fuel cycle.

Dastan Kosherbayev, chief director for strategy and international development at state-owned Kazatomprom, highlighted the robust demand and active development of a “second uranium renaissance”.

He noted increasing support for the nuclear sphere from both political entities and financial institutions, referencing an agreement signed by 14 financial institutions during New York Climate Week in September 2024.

The Net Zero Nuclear initiative, which aims to triple nuclear energy by 2050, has gained traction with Cameco joining as a strategic partner in February 2025.

Sean Quinn, Senior Vice President at Cameco, emphasised the expected significant increase in demand due to structural shortfalls in production.

Kazatomprom’s strategy for 2025-34, released in January, outlines ambitions to expand its footprint in the nuclear fuel cycle and rare earth space.

Kosherbayev mentioned potential ventures into conversion and enrichment projects, as well as exploring rare earth element by-products such as scandium at some of their mines.

According to a recent GlobalData report, Kazakhstan’s uranium industry is projected to grow at a compound annual growth rate of 6.2 per cent from 2025 to 2030, with estimated output reaching 30,500 tonnes by 2030.

This growth aligns with the country’s 10.4 per cent increase in production from 2023 to 2024.

As the global nuclear industry experiences a resurgence, Kazakhstan‘s uranium sector is well-positioned to meet the increasing demand and play a crucial role in the clean energy transition.