Canadian mining company Laramide Resources announced the termination of its agreement with Aral Resources for the Chu-Sarysu uranium deposit development project in Kazakhstan.
Laramide Resources cites changes to subsoil use legislation, approved by the President of Kazakhstan on December 26, 2025, as the main reason for its withdrawal from further participation in Kazakhstani projects.
The company believes it is unprofitable to renew the contract under the condition that Kazatomprom’s stake in uranium mining joint ventures will now be required to be at least 90%.
As of the end of December 2025, there were 14 companies operating in Kazakhstan engaged in the exploration and development of uranium deposits. Two of these are owned by Kazatomprom, while the rest are joint ventures involving companies from China, Japan, France, Canada, and Russia. (Logistan)