MINEX Forum

Tag: uranium exploration

  • Americas Uranium Secures Frankfurt Stock Exchange Listing to Expand European Investor Access

    Americas Uranium Secures Frankfurt Stock Exchange Listing to Expand European Investor Access

    Americas Uranium has received approval to list its shares on the Frankfurt Stock Exchange under the ticker symbol WA7, expanding the Canadian uranium explorer’s market presence to three continents as investor interest in nuclear energy grows.

    The Frankfurt listing follows the company’s existing trading on the Canadian Securities Exchange and quotation in the United States, giving Americas Uranium access to European institutional and retail investors at a moment when uranium and nuclear power are attracting renewed attention as components of the global energy transition.

    CEO Nicholas Luksha described the development as an important milestone in the company’s international expansion. “Being publicly listed in Canada and quoted in the US, and now Germany, represents an important milestone for the company as we continue to expand our international profile and connect with investors who recognise the growing importance of uranium and nuclear energy in the global energy transition,” he said.

    Americas Uranium focuses on acquiring, discovering and advancing uranium projects across prospective jurisdictions in the Americas.

  • Uzbekistan and Mongolia Plan Joint Uranium Exploration Projects

    Uzbekistan and Mongolia Plan Joint Uranium Exploration Projects

    Uzbekistan’s state uranium company Navoiyuran and Uzbek Overseas Geology Company have begun discussions with Mongolia’s uranium producer Mon-Atom to launch joint geological exploration projects in the country.

    During a visit to Mongolia, the Uzbek delegation held meetings with Mon-Atom’s management to explore cooperation in uranium exploration on prospective sites. According to reports, the partners may begin exploration activities as early as this year.

    A strategic intergovernmental agreement between the geological ministries of Uzbekistan and Mongolia is expected to be signed during an upcoming meeting scheduled for April. The agreement will establish a framework for joint exploration and development initiatives in the uranium sector.

    Following the negotiations, Uzbek Overseas Geology Company and Mon-Atom agreed to proceed with a service contract that will support the preparation of project documentation and licensing materials required for subsoil use.

    At the initial stage of the exploration programme, the partners plan to carry out approximately 60,000 metres of integrated drilling across selected sites. After evaluating the uranium resource potential, the companies will determine further steps for detailed geological assessment.

    The initiative forms part of Uzbekistan’s broader strategy to expand its international exploration activities. Last month, Uzbek Overseas Geology Company launched a two-year geological expedition in Afghanistan, where it is exploring for hydrocarbons, iron and copper across three licence areas.

    Uzbekistan’s Ministry of Geology has also signed a cooperation agreement with Afghanistan’s Ministry of Mines and Petroleum, granting Uzbekistan priority rights to develop hydrocarbon resources discovered during exploration activities.

  • Laramide Resources exits uranium exploration project in Kazakhstan’s Chu-Sarysu basin

    Laramide Resources exits uranium exploration project in Kazakhstan’s Chu-Sarysu basin

    Canada-listed uranium developer Laramide Resources has terminated its option agreement to explore for uranium in Kazakhstan’s Chu-Sarysu basin, citing regulatory changes that have reduced the project’s economic attractiveness.

    In a company statement reported by inbusiness.kz, Laramide said it had decided to immediately withdraw from its agreement with Aral Resources, which granted access to more than 5,500 sq km of prospective ground near major uranium deposits and operating mines controlled by national producer Kazatomprom.

    Laramide explained that amendments made late last year to Kazakhstan’s Subsoil and Subsoil Use Code significantly altered the investment framework for uranium exploration. The changes increased Kazatomprom’s mandatory participation in new uranium mining ventures from 50% to 75% and granted the national company priority rights to uranium exploration, effectively limiting opportunities for foreign juniors.

    The option agreement, signed in 2024, envisaged securing up to 22 licenses in the Chu-Sarysu basin, an area considered prospective not only for uranium but also for copper and other minerals. Aral Resources had previously planned to invest tens of billions of tenge in exploration across the licensed areas.

    Laramide said it will now refocus on uranium projects in Australia and the United States, which it described as more competitive and stable mining jurisdictions.

    Commenting on the decision, Laramide CEO Mark Henderson said Kazakhstan’s policy amounted to a de facto nationalisation of future uranium exploration, increasing political, country and potential expropriation risks for new entrants. He warned that while Kazakhstan is seeking to secure long-term control over new discoveries, Kazatomprom itself faces a looming decline in its resource base, according to its own investor disclosures.

    Henderson added that underinvestment in global uranium exploration is likely to deepen future supply deficits, potentially driving uranium prices significantly higher to incentivise new discoveries and development.

  • Sweden Lifts Uranium Mining Ban, Opening Path to Exploration from January

    Sweden Lifts Uranium Mining Ban, Opening Path to Exploration from January

    Sweden’s parliament, the Riksdag, has voted to repeal a 2018 moratorium on uranium mining, reopening the country to exploration and production beginning January 1. The decision restores uranium’s status under the Minerals Act, enabling companies to apply for exploration and mining concessions after a seven-year freeze.

    The move positions Sweden — which holds an estimated 27% of Europe’s known uranium resources, according to the Geological Survey of Sweden — to play a larger role in Europe’s energy transition and nuclear fuel supply security.

    “It is very positive that the Riksdag is now backing the government’s proposal,” said Maria Sunér, CEO of the Swedish Mining Association (Svemin). “There are no factual reasons for uranium to be treated differently than other metals, and it is therefore entirely reasonable that we now have the opportunity to utilize the resources found in our bedrock efficiently.”

    A municipal veto on handling small quantities of uranium was also narrowed, reducing local barriers to development.

    Policy Shift and Strategic Context

    The repeal caps a two-year legislative push led by Sweden’s Climate and Enterprise Ministry. The government formally presented the bill in August 2025, describing uranium as strategic for both nuclear energy expansion and raw-materials security.

    Sweden operates six nuclear reactors, supplying roughly one-third of the nation’s electricity. Plans are underway to build several new reactors over the next decade to meet surging power demand.

    The change also aligns with broader EU supply-chain resilience goals, as the bloc seeks to reduce its dependence on imported uranium, particularly from Russia.

    Exploration Ready to Resume

    Several companies are preparing to act immediately.

    Australian explorer Aura Energy (ASX: AEE; AIM: AURA), which controls the Häggån polymetallic deposit in Jämtland, has already submitted a 25-year exploitation permit to Sweden’s Mining Inspectorate. Häggån’s JORC resource includes roughly 800 million lb of uranium oxide (U₃O₈) within a 2.55-billion-tonne vanadium deposit.

    “This vote means that from now on uranium has the potential to be an important contributor to Sweden’s economy and energy security and to support the region’s intention to triple nuclear power,” said Aura executive chairman Phil Mitchell.

    Canada’s District Metals (TSXV: DMX) also hailed the vote as a “historic step.” The company plans fieldwork in 2026 at its Viken project, including geophysics, drilling, and economic studies. Viken hosts an indicated resource of 176 million lb U₃O₈ and an inferred resource of 1.54 billion lb U₃O₈, alongside vanadium and molybdenum.

    Market Response

    Despite the legislative breakthrough, uranium developers saw modest share pullbacks:

    • Aura Energy fell 7% to A$0.20, trimming its 12-month gain to 46% (market cap A$188 million / $122 million).

    • District Metals slipped 6% to C$1.37, giving it a valuation of C$228 million ($162 million), though its stock has quadrupled in the past year.

    Next Steps

    A separate proposal is now under consultation until December 3 to redefine uranium mining so it is no longer legally classified as a nuclear installation. If adopted, that change would take effect on July 1, 2026, further simplifying the permitting process.

  • Laramide Resources to Launch 15,000m Drilling Program at Chu-Sarysu Uranium Project in Kazakhstan

    Laramide Resources to Launch 15,000m Drilling Program at Chu-Sarysu Uranium Project in Kazakhstan

    Laramide Resources Ltd. (TSX: LAM; ASX: LAM; OTCQX: LMRXF), a uranium development and exploration company with projects in the United States and Australia, has announced plans to drill approximately 15,000 metres at its Chu-Sarysu Project in Kazakhstan, one of the world’s most prolific uranium-producing regions.

    Over the past year, the company compiled a comprehensive dataset from Kazakhstan’s National Geological Services, supplemented by local contractors. The data includes historical mapping, drilling, geophysical surveys (seismic, electromagnetic, magnetic and gravity), and geochemical results. The review confirmed that Chu-Sarysu is a target-rich environment prospective for uranium, copper, and rare earth elements.

    In 2025, Laramide submitted exploration work plans to the Ministry of Industry and Construction and is finalising the remaining permits needed to proceed. Two local drilling contractors have been selected to carry out the Phase 1 program using multiple rigs, with depths ranging from 50 metres to as deep as 550 metres. The program will begin in Q4 and aims to demonstrate the extent of roll-front hosted uranium mineralisation beyond existing ISR operations, while also testing for copper and rare earths.

    Kazakhstan currently accounts for nearly 40% of global U₃O₈ output, with the Chu-Sarysu and Syr Darya basins producing more than 75% of the country’s uranium. The Chu-Sarysu Basin also has significant copper potential, highlighted by the Dzhezkazgan deposit and ongoing exploration by global miners including Rio Tinto, Fortescue, First Quantum, and Ivanhoe.

    Marc Henderson, Laramide’s President and CEO, described the project as “one of the great greenfield exploration opportunities globally,” noting the supportive investment climate in Kazakhstan. He emphasised that uranium remains the company’s primary focus, with ISR mining offering cost efficiency and environmental benefits, but highlighted the upside potential of copper and rare earths.

    “This inaugural exploration program for Laramide in Kazakhstan is targeting high-grade, large-scale uranium deposits in a basin with existing infrastructure and producing operations,” Henderson said. “We look forward to delivering results that demonstrate the significant potential of this world-class district.”

  • Astana and Amman to Establish Joint Venture for Uranium Development in Jordan

    Astana and Amman to Establish Joint Venture for Uranium Development in Jordan

    Tuesday, 27 August 2025

    Kazakhstan and Jordan have announced plans to create a joint venture for the development of uranium deposits in Jordan. The agreement was revealed by Nurlan Zhakupov, Chairman of the Board of the “Samruk-Kazyna” Sovereign Wealth Fund, during a press briefing on Wednesday.

    According to Zhakupov, the joint venture will be established between Kazatomprom, Kazakhstan’s national uranium company, and Jordan’s national uranium company. The agreement, signed during the visit of Jordan’s King Abdullah II, is a legally binding document that outlines the creation of the joint venture by the end of 2026.

    Scientific and Industrial Collaboration

    Under the agreement, both parties will conduct scientific research and pilot industrial work to assess the extractability and enrichability of uranium in Jordan. If the results are positive, the joint venture will be finalized by the end of 2026, with Kazatomprom holding a 70% stake and the Jordanian company owning the remaining 30%.

    Kazatomprom, the national operator for uranium exports and related products in Kazakhstan, operates under the management of the “Samruk-Kazyna” fund. The company is responsible for the export of uranium, rare metals, nuclear fuel for power plants, and specialized equipment.

    Previous Agreements and Future Prospects

    In February 2025, Kazatomprom and the Jordan Uranium Mining Company (JUMCO) signed a memorandum of cooperation to jointly study projects related to uranium exploration and mining in Jordan. The decision to collaborate was made during the fifth meeting of the Kazakh-Jordanian intergovernmental commission at the end of 2024.

    The establishment of this joint venture underscores the strategic cooperation between Kazakhstan and Jordan in the nuclear energy sector, with both countries aiming to leverage their resources for mutual economic benefit.

  • Kazatomprom Expands Uranium Exploration with New License

    Kazatomprom Expands Uranium Exploration with New License

    Kazakhstan’s national atomic company, Kazatomprom, has added a new license for geological exploration to its portfolio, focusing on the Budyonovskoye area. According to an announcement on the company’s official website, Kazatomprom is set to explore uranium deposits in the “Severnoye” block.

    The newly targeted site is located in the Shu-Sarysu Uranium Province in the Suzak district of the Turkestan region. Kazatomprom has secured a six-year subsoil use contract, with an option to extend it for an additional five years. Preliminary estimates place the predictive uranium resources at over 100,000 tons, classified as R1 and R2. During the contract period, the company plans to reassess these resources and elevate them to higher confidence categories, C1 and C2.

    According to Meirzhan Yusupov, Chairman of Kazatomprom, the Severnoye block has substantial potential, thanks to its large metal reserves, favorable geological conditions, and proximity to the company’s other operational uranium projects.

    Earlier this fall, Kazatomprom received a license to explore Block No. 5 on the southern flank of the Budyonovskoye area. However, its estimated reserves are comparatively smaller at 18,000 tons of uranium.

  • C29 Metals Secures Southern Tenement at Ulytau Uranium Project in Kazakhstan

    C29 Metals Secures Southern Tenement at Ulytau Uranium Project in Kazakhstan

    C29 Metals has successfully acquired the southern tenement, spanning 213km², at the Ulytau Uranium Project in southern Kazakhstan. This new tenement is contiguous with the existing license area, located directly to the south and east of the project’s current boundaries. With a market capitalization of $11.17 million, C29 Metals announced that the tenement granting process was completed within an impressive 15 days, highlighting the efficiency of government agencies and their support for the company’s endeavors.

     

    Managing Director Shannon Green expressed excitement over the swift approval, stating, “It is very exciting to have this highly prospective application granted in such a rapid timeframe.” He further emphasized that this rapid approval demonstrates the positive operating environment in Kazakhstan and the strong support the company is receiving.

    C29 Metals will immediately begin the exploration approval process for the new southern tenement. The approval process for the company’s planned exploration programs at the Ulytau Project is already well advanced and proceeding as scheduled. The Ulytau Project is located in the Almaty region, approximately 15km southwest of the Bota-Burum mine, one of the largest uranium deposits mined during the former Soviet Union era.

  • Uranium Exploration in Albania: Challenges and Consequences

    Uranium Exploration in Albania: Challenges and Consequences

    Collaborating with Chinese experts, research endeavors commenced in Nimçë, Kukës, and Muhur, Dibra. Despite encountering low exploitation prospects and challenging ore conditions, workers successfully reached their goal. Periodic reports detailing the research findings were submitted to the prime minister.

    “The results were reported to the Prime Minister by the expedition leaders… We aimed to establish the presence of such mineralization in Albania, which we achieved,” stated Gezim Shima, a geologist.

    “In Albania, we have Nimçen with industrial conditions but with very low reserves… we also have uranium in the phosphorite of Fushë Vardë and in the phosphorite of Guzmar,” revealed Qerim Ismeni, a metallurgist and environmentalist.

    Special devices were employed for the search, detecting radiation in the area, a clear indication of uranium presence, according to experts.

    “In all uranium-related facilities, discoveries are made by measuring radiation and through chemical analysis,” explained Qerim Ismeni.

    While the exploration met its objective of locating ore, the conditions were challenging, with few reserves. After an extensive research period, operations ceased. Today, the surviving mine workers can be counted on one hand, with irreparable health consequences.

    “The number of Nimçe workers still alive is almost… unfortunately, many have passed away at the age of 55,” lamented Qerim Ismeni.

  • Ulytau Resources to Conduct Uranium Exploration in Kazakhstan’s Jambil Region

    Ulytau Resources to Conduct Uranium Exploration in Kazakhstan’s Jambil Region

    Ulytau Resources is set to embark on uranium exploration at the Djusandalinskoye deposit in the Zhambyl region. Under the acquired license, the mining company will survey an area of 29.43 km² from 2024 to 2028 near the uranium-molybdenum Botaburum deposit in southern Pri-Balkhash, as reported by inbusiness.kz. In addition to seeking new uranium deposits, Ulytau Resources will evaluate previously identified reserves and monitor the natural radiation levels during drilling activities. Public discussions regarding the exploration license for uranium are scheduled for April 25th. The uranium deposits at Djusandalinskoye were first discovered in 1982, with the metal’s reserves classified under categories C1 and C2 in 1991 and subsequently studied by “Yuzhpolymetal” experts who have conducted geological surveys at Botaburum since 1957.