06:59 AM EST, 01/02/2025 (MT Newswires) -- Cameco ( CCJ ) on Thursday said the Inkai uranium mine in Kazakhstan, its joint venture with National Atomic Company Kazatomprom, has suspended production activity as of Jan. 1.

The joint venture notified the company that it had not received an extension of the timeline to submit an updated project for uranium deposit development documentation, which was expected before the end of 2024.

Kazatomprom informed Cameco ( CCJ ) that the extension was not received due to the delayed submission of necessary documentation to the Ministry of Energy.

As majority owner and controlling partner of the joint venture, Kazatomprom on Dec. 30 directed Inkai to plan for a halt of operations as of Jan. 1 to avoid potential violation of Kazakhstan regulation.

Cameco ( CCJ ) said there was no mention in prior reports from its joint venture partner and Inkai that a production suspension is a risk in relation to the process of updating the project documentation.

The company will be seeking further clarification on the suspension and the potential 2025 and 2026 production and financial impacts, including on future dividends.

Kazatomprom holds a 60% interest in JV Inkai, while Cameco ( CCJ ) owns a 40% share.