The production of medical isotopes in Chalk River Laboratories facilities (Chalk River, ON, Canada) has resulted in a large quantity of cemented radioactive waste (CRW) containing valuable elements such as uranium. From the perspective of recovering and ultimately recycling valuable elements from CRW, the solubilization of key constituents such as uranium, mercury, and cesium has been previously investigated using H2SO4/KI. However, to achieve recycling of these elements, separation must be performed as they are co-solubilized. In this study, the extraction of uranium and mercury by chelating resin Lewatit TP260 from surrogate cemented radioactive waste (SCRW) leaching solution in sulfuric media and in the presence of iodide was investigated. Extraction of U and Hg was assessed as a function of the concentration of KI (0.12 M to 0.24 M) used during the SCRW dissolution process. Continuous experiments showed that the Lewatit TP260 functional group, aminomethylphosphonic acid, had a high affinity for U. Mercury was also extracted onto the Lewatit TP260. However, the presence of iodide in the SCRW leaching solution increased the competition between the adsorbed mercury of the stationary phase and the iodide–mercury complexes of the mobile phase. Additionally, the reusability of the resin was tested through extraction and desorption cycles. Due to the presence of trivalent cation, the capacity of Lewatit TP260 for U and Hg decreases with the number of cycles.