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Uranium production suspended at Kazakhstan mine co-owned by Cameco and Kazakh entities

By Carol Thomson Jan 2, 2025 | 9:11 AM

Cameco is reporting that uranium production has been suspended at JV Inkai in Kazakhstan. Cameco owns a 40 per cent share in the mining company, with the other 60 per cent owned by Kazatomprom, which is majority-owned by the Kazakh government.

A news release from Saskatoon-based Cameco says JV Inkai formally notified them on December 31st that it hadn’t received an extension of the timeline to submit its updated Project for Uranium Deposit Development documentation, which was expected prior to year-end. There was a delay in the submission of the necessary documentation to the Ministry of Energy. To avoid any potential violation of Kazakhstan legislation Kazatomprom directed JV Inkai to plan for a halt of operations as of January 1st.

A statement from Cameco says it is disappointed and surprised by the unexpected suspension and is looking into how this transpired, the potential production and financial impacts, and what Cameco can do to help restart mining operations at JV Inkai.