Uranium heavyweights flirt with reopening mothballed mines amid Kazakh unrest

Uranium heavyweights flirt with reopening mothballed mines amid Kazakh unrest

A worker holds an intermediate form of uranium. Some North American uranium heavyweights, many with mothballed facilities, are already stepping up to the plate if supply in Kazakhstan is compromised, or utilities look for new suppliers.
Source: Pallava Bagla/Corbis News via Getty Images North American uranium producers are toying with restarting mines as volatility in Kazakhstan drives up yellowcake prices and increases the value of supply from politically stable countries.

Kazakhstan, which produces almost half of the world’s uranium, has been embroiled in a week of protests, with civilians rebelling against soaring fuel prices, corruption and economic disparities. The volatility in the country has not yet disrupted shipments, but prices have responded. S&P Global Platts assessed the month spot price of U3O8 to Canada at $42.25/lb on Jan. 4 and $45.75/lb on Jan. 6, an 8.3% jump.

The price is lower than highs set in fall 2021, but a […]

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