BAKU, Azerbaijan, July 2. Kazakhstan's
President Kassym-Jomart Tokayev and Canada-based Cameco Corporation
President and Chief Executive Officer Tim Gitzel discussed
prospects for expanding cooperation in the nuclear industry, the
presidential press service reported.
The meeting took place on the sidelines of the 38th plenary
session of the Foreign Investors' Council in Astana.
Tokayev praised the results of the 30-year strategic partnership
between Cameco and Kazakhstan's national uranium producer,
Kazatomprom, in the uranium sector. The president said Kazakhstan
remains committed to industrial modernization and the development
of high-value-added industries.
According to Tokayev, one of the country's key priorities is the
establishment of a full nuclear fuel cycle within Kazakhstan.
The two sides also discussed prospects for further cooperation
in the nuclear sector, including the implementation of joint
projects.
The first nuclear power plant in Kazakhstan, to be built by
Russia’s Rosatom, is planned near Lake Balkhash, in the village of
Ulken in the Almaty region.
On August 8, 2025, preliminary works for the Balkhash Nuclear
Power Plant project began in the village of Ulken. The activities
include engineering surveys aimed at selecting the optimal site and
preparing design documentation for the large-capacity nuclear power
plant. As of May 2026, more than 90% of field engineering surveys
had been completed.
Cameco, headquartered in Saskatoon, Canada, is a uranium
producer and nuclear fuel company. In addition to uranium mining,
the company has investments across the nuclear fuel cycle,
including interests in Westinghouse Electric Company and Global
Laser Enrichment.
