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Uranium prices rise during clashes in Kazakhstan | Powerful News

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Kazakhstan produces more than 40 percent of the world’s uranium and turmoil in the country saw prices for radioactive emissions.

Author Bloomberg

Uranium prices have skyrocketed as Kazakhstan, a major radioactive producer, struggles to cope with the deadly protests that have posed a serious threat to the country’s leadership over the years.

Central Asia, which is part of the former Soviet Union that produces more than 40% of the world’s uranium, has disrupted communications and banned travel to end the turmoil. The Kremlin said Russia and its allies in the Collective Security Treaty Organization would send “peace groups” after Kazakh President Kassym-Jomart Tokayev had called for help.

Uranium rose about 8% to $ 45.25 a pound Wednesday from $ 42 on Tuesday, according to UxC data. The crisis could lead to a growing reliance on Kazakhstan’s exporters, leading to an increase in uranium companies in North America and Australia.

Given Kazakhstan’s role as the world’s leading uranium envoy, “it could be that the Saudis have a problem with oil,” said Jonathan Hinze, president of UxC LLC, director of nuclear oil market research and research. “While there is no shortage right now, the potential for diminishing is where people are selling.”

Nuclear fuel returned in a dramatic way in September, with prices rising 24% on a monthly basis since the end of 2008. Advertisers betting on nuclear power will enjoy a resurgence as governments discontinue oil.

Although prices are rising in the wake of the turmoil in Kazakhstan and the deterioration in supplies, there is no shortage of uranium or a blackout. Unlike oil or gas stations, nuclear power plants may continue to operate as delayed shipments because many have been stockpiling over the past few years.

And perhaps some other mining activity is still going on. Katco’s project, a coalition of uranium mines between NAC Kazatomprom JSC and Orano SA of France, has not been suspended for now as the mining site is far from difficult areas, the Orano spokesman said.

However, shares of Kazatomprom, the head of uranium mines in Kazakhstan, have dropped 10% in the last two days in London. Many uranium companies in North America increased profits Wednesday from earlier this week after the European Union insisted on a plan to keep certain nuclear projects stable.

With the violence in Kazakhstan, “people are waking up that we may not be able to rely on one major manufacturer,” said Nick Piquard, a history specialist for the Horizons ETFs.

(Changes of the Katco mining venture in paragraph 7)
-With the support of Yulia Fedorinova and Francois de Beaupuy.



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