Uranium Giant in Talks to Supply Sprott as Investor Demand Soars

Uranium Giant in Talks to Supply Sprott as Investor Demand Soars

Top uranium miner Kazatomprom said it may supply the metal to Sprott Inc. , the investment firm whose aggressive bets on the market have helped drive a surge in prices.

“We already started talks with Sprott,” Askar Batyrbayev, chief commercial officer of the Kazakh producer, said in an interview. “A lot of financial players” are increasingly interested in uranium, from the Middle East to Singapore and Hong Kong, he said.

The radioactive metal, used to fuel nuclear plants, has soared to the highest price since 2014 due in part to Sprott’s buying spree. The firm’s physical uranium fund has boosted its stockpile by 45% in four weeks, potentially tightening the market and putting pressure on utilities and other consumers.

Any contract with Sprott will reflect Kazatomprom’s long-term view of supply and demand, Batyrbayev said. It would be for deliveries starting in 2022, since the miner will be buying from the market this […]

About the author: StockMan

Please remember:

The information provided here is for general knowledge and educational purposes only.
It is not intended to be a substitute for professional financial advice.
Every individual's financial situation is unique, and what works for one person may not work for another.
Before making any investment or financial decisions, you should always consult with a qualified financial advisor who understands your specific circumstances and goals.

Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, should never be acted upon. Please be aware that any information posted on this site should not be considered to be financial advice and i am not a financial advisor.

Posting Guidelines
  • Do contribute something to the discussion
  • Do post factual information, analysis and your view on company valuations
  • Do disclose if you have an interest in a security
  • Do take our Terms of Use seriously
Do Not
  • Do not make low-content posts, unsubstantiated ramps or untruthful/misleading statements
  • Do not complain about a post unless you have reported it first, and not on the forum.
  • Do not post financial advice
  • Do not advertise or post sponsored content

Get involved!

Get Connected!

Come and join our community. Expand your network and get to know new people!


No comments yet