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NAC Kazatomprom JSC, headquartered in Astana, is the national atomic company of the Republic of Kazakhstan and the world's largest uranium producer. In 2025 it produced 25,839 tU on a 100% basis and 13,519 tU on an attributable basis, which the company puts at approximately 20% of global primary uranium production.
State control totals ~75%, split since 20-Jul-2024 between Samruk-Kazyna (reduced from 75% to 62.99336549%) and the Ministry of Finance (12.00663451%). Free float is reported at 14.92%, across the Astana International Exchange and the London Stock Exchange; the balance is not broken out in the disclosures read this pass and is deliberately not attributed here. Shares are listed on AIX; only GDRs are listed on the LSE — hence the `KAP LI` ticker is a GDR line, not an ordinary share.
Named counterparties identified by open-source research and written only where a primary source states the relationship — never inferred from sector or co-mention. 4 customer-side. This is a partial view: it covers the relationships we could evidence, not the company's full supply base.
Long-term contract for sale and purchase of natural uranium concentrates, signed 9 Nov 2023 at CIIE Shanghai; Kazatomprom's release identifies the buyer as 'a subsidiary of China National Nuclear Corporation - CNNC'; volumes and terms not disclosed for confidentiality.
Cameco's 2024 AIF states Cameco (40% JV Inkai interest) 'received 2.7 million pounds of its total share of Inkai's 2024 production,' with the remainder stored at JV Inkai for future delivery -- physical natural uranium delivered from the Kazatomprom-operated (60%) Inkai JV to Cameco in Canada.
Kazatomprom: 'Kazakhstan concluded a contract with Swedish Company Vattenfall AB for the supply of natural uranium' (competitive tender). Origin KZ (Kazatomprom ISR mines). Destination NOT pinned: natural U3O8 is delivered to a converter's account (no conversion plant in Sweden), so the physical flow is KZ>converter country, not KZ>SE; Sweden-bound material would be fabricated fuel from Västerås/Framatome. 2018 evidence, pre-2022 — needs a current confirmation.
ImportGenius US import records, importer page Converdyn: bills of lading MLBGSPIEPOTHOU02 (714,287 kg) and MLBGSPIEPOTHOU01 (286,766 kg), both arriving 2026-02-22, shipper JSC NAC KAZATOMPROM, consignee Converdyn, 'URANIUM (NAT.) UN, CLASS RADIOACTIVE MATERIAL, LOW SPECIFIC ACTIVITY', sea freight loaded in Georgia (Trans-Caspian route; Kazatomprom's uranium is mined by ISR in Kazakhstan). ConverDyn is the US marketing agent for UF6 conversion at Metropolis Works, Illinois. Gross weights include packaging; no value stated. Whether title passed to ConverDyn or the uranium is customer-owned conversion feed is not stated.
Scope. Absence of a counterparty here is not evidence that none exists — most commercial sourcing is confidential and never becomes public. Rows without a share figure mean no share was disclosed, not that the relationship is small.
3 other tracked dossiers name this company as a counterparty in its own sourced disclosure — this platform never wrote these rows on this company's own page, they are read here inverted from the dossier that disclosed them. This is a partial view: 982 additional named-counterparty rows across the corpus could not be matched to a tracked dossier by name at all (mostly non-Latin legal names), so the true count is higher than what renders here.
Cameco's 2024 AIF states Cameco (40% JV Inkai interest) 'received 2.7 million pounds of its total share of Inkai's 2024 production,' with the remainder stored at JV Inkai for future delivery -- physical natural uranium delivered from the Kazatomprom-operated (60%) Inkai JV to Cameco in Canada.
Kazatomprom EGM notice (RNS, 2025-09-02): spot contract No. CNOL-2024-156 of 15 November 2024 with CNNC Overseas Limited 'for the sale and purchase of natural uranium concentrates' — 'delivery of natural uranium concentrates was completed in full'; plus the CNUC long-term agreement; CNUC and CNOL are 'affiliated entities of China National Nuclear Corporation (CNNC)'. Volumes/prices confidential; delivery point not stated in the notice (KZ>CN rests on CNNC's China reactor fleet). Earlier evidence (2023, https://www.kazatomprom.kz/en/media/view/kazatomprom_contract_cnuc): Kazatomprom's release: long-term contract for sale and purchase of natural uranium concentrates, signed 9 Nov 2023 at CIIE Shanghai, with the buyer named as China National Uranium Company Limited (CNUC), which the release identifies as 'a subsidiary of China National Nuclear Corporation - CNNC'; volumes and terms not disclosed for confidentiality.
Kazatomprom won an open tender (Dec 2022) to supply natural uranium oxide (U3O8) 'for the needs of Romania's nuclear power industry'; delivery to FPCU Feldioara completed and announced by World Nuclear News on 2023-04-06, routed via the Trans-Caspian corridor to avoid Russian territory. Nuclearelectrica opened talks in 2025 on a follow-on 10-year supply deal with Kazatomprom (see dossier body), so this is FPCU's founding and still-primary uranium supplier, not a one-off spot purchase.
Scope. This section is inverted evidence: each linked dossier wrote the original row about itself, describing its own relationship to this company. It is never a claim this company itself disclosed. Absence here is not evidence of no relationship — most of the corpus has no named-counterparty block at all yet.
This company sits on the supply side for 4 of its 4 materials — a restriction on those is a tailwind, not a headwind.
No actions in the register have named or swept this company in the last 24 months.