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Tengrinews.kz - Kazakhstan has won a years-long legal battle against Canadian uranium company World Wide Minerals (WWM) after the High Court of Justice in London ruled in its favor on February 28, 2025. The court overturned a 2024 decision that had required Kazakhstan to pay WWM approximately $65 million, according to Justice Ministry spokesperson Talgat Uali.
The dispute dates back to 1997, when the Kazakh government denied WWM an export license for uranium and terminated its trust management contract for the Tselinny Mining and Chemical Combine (now the Stepnogorsk Mining and Chemical Combine). The legal battle formally began in 2013.
"On February 28, 2025, the London court issued a favorable ruling for the Republic of Kazakhstan, overturning the 2024 decision that obligated the country to pay the claimants around $65 million. As a result, Kazakhstan has no financial obligations to WWM," Uali stated at a press briefing.
He emphasized that challenging rulings in UK courts is difficult, with fewer than two percent of appeals being successful.
Kazakhstan’s Justice Ministry stressed that this victory prevents significant financial losses and enhances the country’s investment appeal. Officials credited the success to the coordinated efforts of the ministry, government agencies, and legal consultants.
Read also: What awaits Kazakhstan if uranium demand continues to grow, experts weigh in
