Global supply deficits drive Kazatomprom’s 50% January jump

Kazatomprom became Kazakhstan’s 2026 market leader / Photo: Shutterstock, photo editor: Serikzhan Kovlanbayev

In January, shares of Kazatomprom traded on Kazakhstan’s KASE and AIX exchanges rose 49.5%. The uranium giant led all Kazakhstani firms in both share price growth and trading volume, economist Arman Batayev said on his Telegram channel.

Policy shifts boost nuclear outlook

Batayev attributed the rally to foreign policy and economic factors, including simplified U.S. licensing rules for nuclear fuel production and increased investment in the nuclear sector as Western countries seek alternatives to Russian fuel. The European Union has also announced plans to stop purchasing uranium from Russia starting in 2027.

High trading volumes

Kazatomprom ranked among the top three companies by share trading volume on both exchanges. Trading in Kazatomprom shares totaled 7.3 billion tenge ($14 million), followed by Solidcore with 5.4 billion tenge and Halyk Bank with 4.9 billion tenge.

Supply constraints support prices

Earlier, an industry expert told Kursiv.media that Kazatomprom shares began rising sharply amid growing demand for stable electricity supplies and limited global uranium availability.