Representatives for Canada-based Uranium One, which is a subsidiary of Russia’s state-owned nuclear corporation Rosatom GK, could not be reached for comment. Shares in Canada’s Cameco Corp fell 3.7% on Thursday and a uranium exchange traded fund (ETF) from Global X fell 3.6%.Ĭameco said it could resume production of roughly 24 million pounds of uranium annually in North America if needed by the global market. Shares in other uranium producers fell on Thursday after Wednesday gains. They earlier hit their lowest since the end of September, adding to Wednesday’s 8% drop. Kazatomprom’s London-listed shares clawed back some losses after the announcement, finishing Thursday down 6.7%. Kazatomprom’s attributable production represented approximately 23% of global primary uranium output in 2020, according to the company’s website. The company is fulfilling its export contracts,” a Kazatomprom spokesperson said. “Uranium mining is going according to plan. 30, according to a Platts assessment.īut the central Asian country’s political turmoil does not seem to have so far affected key industries. Spot prices hit $45.50 per pound on Wednesday, the highest since Nov. Uranium prices have risen after unrest in Kazakhstan which was spurred initially by protests against fuel price hikes.
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