Uranium: A global bull market is under way due to COVID-19

The growing uranium supply deficit, currently being accelerated by COVID-19 pandemic related production cuts, has seen the price for uranium skyrocket – making it the world’s best-performing major commodity right now. With the suspension of operations at four notable uranium mines in March and April, the spot price has surged to US$33/lb in May from …

Uranium Tipping Point: The Pending Price Correction 

Uranium market shift is underway with recent price correction representing the first indication that we are reaching  the tipping point. View a 3-minute video here. About Purepoint Purepoint Uranium Group Inc. is focused on the precision exploration of its nine projects in the Canadian Athabasca Basin, the world’s richest uranium region. Established in the Athabasca Basin …

Uranium Week: Production Reduction

According to a report released by the US Energy Information Agency last week, US uranium production in 2019 totalled 170,000lbs U3O8, down -76% on 2018. Total shipments of uranium concentrate from US producers were 190,000lbs in 2019, -87% less than in 2018. The EIA noted that total employment in the US uranium production industry was …

Looking for a Glowing Commodity? Try Uranium

Uranium is having a moment in 2020, climbing a third in six weeks while much of the commodities universe melts down. Years of poor economics and weak investment, combined with the impact of pandemic-related mine closures, are adding up to a supply squeeze, despite demand softened by industrial lockdowns. There will be no swift return to lofty levels last seen over a decade ago, but …

Kazatomprom tips uranium deficit

Kazatomprom tips uranium deficitGlobal uranium leader, Kazakhstan’s Kazatomprom, says it will maintain mine-site restrictions to stem the spread of COVID-19 for at least another three months, which could contribute to a 10% uranium market deficit 2020. Uranium spot prices have recently crossed into US$30/lb territory as production cuts are deepened by COVID-19 restrictions. The market …

Could Cameco suspension kick-start the uranium sector?

Cameco Corp. [CCO-TSX; CCJ-NYSE] is temporarily suspending production at its Cigar Lake uranium mine in northern Saskatchewan. It said the move is a safety precaution that stems from the threat posed by the Coronavirus [COVID-19] pandemic. Cameco is one of the world’s leading uranium producers. Cigar Lake is the globe’s largest operating uranium mine and …

Kazatomprom may draw down uranium inventory if coronavirus cuts output

Kazatomprom, the world’s largest uranium producer, said Monday it could rely on inventories to meet future physical deliveries in the event U3O8 production is reduced or suspended at operations in Kazakhstan due to the coronavirus outbreak. “In the event that mine production or the ability to physically deliver material is impacted, Kazatomprom’s production decisions and …