Kazakhstan, the world's top uranium producer, has signed its first-ever agreement to supply Swiss energy company Axpo with uranium, reinforcing Switzerland’s nuclear energy supply as it

extends the lifespan of its power plants.

Kazatomprom, the world's largest uranium mining company, and Axpo announced on Monday that they had reached a deal for the delivery of Kazakh natural uranium concentrate. This uranium will be used to fuel Switzerland’s Beznau and Leibstadt nuclear power plants, both located in the canton of Aargau.

Strengthening energy security and decarbonization

Bruno Zimmermann, Axpo’s Head of Nuclear Fuel, emphasized that the agreement guarantees a stable energy supply for Switzerland while supporting global decarbonization efforts aimed at reducing greenhouse gas emissions.

While financial terms and delivery volumes were not disclosed, Axpo highlighted the deal’s strategic significance in diversifying and securing its nuclear fuel sources.

In December, Axpo announced that the Beznau nuclear power plant, which has been operational since 1969, will continue running until at least 2033. Other Swiss reactors are also slated for long-term operation, with the Gösgen plant expected to remain online until at least 2039 and Leibstadt running until 2045. The possibility of extending their lifespans further is still under consideration.

The revival of nuclear power in Switzerland

Switzerland’s stance on nuclear energy has been shifting in recent years. In February 2024, centre-right political parties launched a popular initiative challenging the country’s ban on new nuclear power plants, reigniting the national debate.

Axpo CEO Christoph Brand has previously argued that keeping existing nuclear plants operational until around 2050 is a viable option, as they provide stable, cost-effective, and CO2-neutral electricity.

In August 2024, the Swiss Federal Council reopened discussions on nuclear energy, reconsidering the country’s 2017 decision to phase out nuclear power. Energy Minister Albert Rösti even suggested the possibility of constructing a new nuclear plant at the site of the decommissioned Mühleberg facility.

Kazakhstan’s global role in uranium supply

Kazakhstan dominates global uranium production, accounting for more than 40% of the world's supply. It is also the third-largest supplier of natural uranium to the European Union.

Despite its vast natural resources, Kazakhstan faces energy shortages and is currently planning to build its own nuclear power plant near Lake Balkhash in the south of the country. Several nations, including China, Russia, France, and South Korea, have expressed interest in assisting with this project.

This new partnership between Kazakhstan and Switzerland marks an important milestone in securing nuclear fuel supplies while reflecting the broader trend of nuclear energy’s revival in global energy strategies.