The decision of the Canadian company Laramide Resources to halt its uranium project in Kazakhstan is related to changes in local legislation.
According to Exclusive.kz, at the beginning of its operations, Laramide Resources was unable to commence practical work due to prolonged bureaucratic procedures. The main reason for exiting the project was cited as changes made to the Subsoil Code, which were signed in December 2025. These amendments increase the mandatory share of participation for "Kazatomprom" in new uranium deposits, which the company's representatives interpreted as "de facto nationalization" of all promising uranium finds.
Laramide Resources President Mark Henderson noted that the project in Kazakhstan has become economically and strategically unfeasible for the company, which, according to him, applies not only to them but also to other foreign participants in the uranium sector.
As a result, Laramide Resources has ceased funding its operations in Kazakhstan and will now focus on uranium projects in the USA and Australia.
