Uranium Week: Kazatomprom Reports, SPUT Readies For Growth

As the uranium spot price fell marginally last week, Kazatomprom released production and sales results, while the the Sprott Physical Uranium Trust achieved a key regulatory milestone in its plan to raise additional funds.

-Kazatomprom reports second quarter production and sales
-The Sprott Physical Uranium Trust seeks funds
-Uranium spot price falls by -1.5% for the week

Kazakhstan uranium producer Kazatomprom last week reported higher second quarter production and sales and reaffirmed 2021 production guidance.However, management flagged first half uranium production was below internal expectations and warned “final year-end volumes may fall short, if the wellfield development and supply chain issues continue”.The uranium miner, with production representing approximately 23% of global primary uranium production in 2020, produced circa 8mlbs U3O8 in the June quarter, 9% more than in the same quarter last year.The higher production was due to the impact of covid-19 in 2020, which resulted in lower production. […]

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