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.
