Why are ASX uranium shares charging higher today?

Why are ASX uranium shares charging higher today?

Shares in ASX uranium players are gaining support to start the year in 2022 and are outpacing their benchmarks. Whereas the S&P/ASX 200 index (ASX: XJO) has slipped just under 2% in the red to 7,423 points today, several ASX uranium shares are surging and are well ahead of the broad index.

For instance, both Paladin Energy Ltd (ASX: PDN) and Bannerman Energy Ltd (ASX: BMN) are in the green and have climbed 3% and 5% on the day respectively.

Not to mention Lotus Resources Ltd (ASX: LOT) and Deep Yellow Ltd (ASX: DYL) share prices’ that are 3% and 5% higher on the day as well. What’s got ASX uranium shares charging higher today?

Deadly protests stemming from the world’s largest producer of uranium, Kazakhstan, are leading to a jump in prices for the radioactive metal.Kazakhstan produces more than 40% of the world’s uranium, and right now is facing unrest […]

About the author: StockMan

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