Winsome Resources begins permitting for Adina lithium project in Quebec
The project is subject to Quebec’s provincial environmental and social impact assessment (ESIA) processes.
Cameco’s (TSX: CCO, NYSE: CCJ) joint venture project (JV Inkai LLP) in Kazakhstan has resumed uranium production, Kazakhstan’s national uranium producer Kazatomprom (LSE: KAP) announced on Monday.
The JV temporarily suspended production activities at Block No. 1 of the Inkai deposit on January 1 due to the absence of required approvals from state authorities. The delay was caused by the late submission of the necessary documentation.
The in-situ recovery project, in which Cameco holds a 40% stake and Kazatomprom 60%, is the largest uranium operation in the Central Asian country.
According to Kazatomprom, JV Inkai LLP has resolved the approval issue and resumed mining operations. The potential impact of the suspension on Inkai’s 2025 production plans is currently being assessed.
“Kazatomprom remains fully committed to fulfilling contractual obligations to all existing customers and maintains sufficient inventory levels to comfortably manage deliveries throughout 2025,” the company stated.
Kazatomprom said it does not anticipate any significant impact on its production forecast of 65–68.9 million tonnes of uranium oxide (U3O8), according to a previous note from BMO at the time of the suspension.
Inkai’s output is forecasted to total 9.3 million pounds this year, representing 14% of Kazakhstan’s production and 16% of Cameco’s, according to BMO estimates.
Cameco’s shares fell 12% to $49.25 apiece on Monday morning in New York, for a market capitalization of $21.4 billion.
Shares in Kazatomprom fell 1.7% to $37.20 apiece in London, giving it a market cap of $10.2 billion.
Comments