Kazakhstan's Uranium Deal Talks with Finland Amidst Russian Tensions
Kazakhstan is in discussions with Finland regarding potential uranium supplies for Finnish nuclear power plants. This is part of Finland's broader strategy to reduce dependency on Russian nuclear fuel. Kazakhstan, despite not having its own nuclear plants, holds significant global uranium reserves.
Kazakhstan is in talks with Finland about supplying uranium to Finnish nuclear power facilities, according to Almasadam Satkaliyev, head of Kazakhstan's nuclear energy agency. The discussions come during Finnish President Alexander Stubb's visit to Astana but lack details on potential volumes or delivery timelines.
Finland is phasing out Russian nuclear fuel, increasing interest in Kazakhstan's significant uranium reserves, the second largest globally. Although Kazakhstan does not have its own nuclear power plants, it produced 23,270 metric tons of uranium in 2024 and aims for up to 26,500 tons in 2025.
Currently, Fortum's reliance on Russian nuclear fuel is decreasing, sourcing from U.S.-based Westinghouse Electric instead. As Kazakhstan maintains a diplomatic balance amid the Ukraine conflict, its uranium exports could transit through Russia despite ongoing EU sanctions.
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