Laramide Resources Terminates Option Agreement for Kazakhstan Uranium Project

MT Newswires Live

Jan 21

Laramide Resources (ASX:LAM) decided to terminate its option agreement with Aral Resources for the Chu-Sarysu uranium project in Kazakhstan, effective immediately, according to a Wednesday Australian bourse filing.

It submitted the required exploration work plans to Kazakhstan's Ministry of Industry and Construction and sought the required remaining permits needed to begin drilling after ground reconnaissance and ground geophysics.

But the firm experienced delays in receiving the necessary drilling permits, which were received on Dec. 24, 2025.

It believes an economic case for foreign direct investment in uranium exploration no longer exists in Kazakhstan after the country's President signed into law legislative changes to the Subsoil Use Code, which led to a materially increased level of minimum ownership of any newly discovered uranium resources by the national company, Kazatomprom, among other things.

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