Top miner Kazatomprom buys uranium as inventory under pressure

Kazatomprom KZAP.KZ, KAPq.L, the world’s No. 1 uranium miner, has started buying the metal on the spot market and may purchase more this year to replenish its stock after the coronavirus pandemic upended the global market, it said on Thursday. Supply disruptions have accelerated the rebalancing of the nuclear fuel market, pushing up the spot price and prompting …

Kazatomprom to maintain uranium output cuts through 2022

Kazatomprom KZAP.KZ, KAPq.L, the world’s biggest uranium miner, will keep its output reduced by 20% through 2022, it said on Wednesday, in order to help the market recover. “The decision to keep production similar year-over-year, and extend production curtailment into 2022, is indicative of a global uranium market that is still recovering from a long period of …

Geiger Counter – Hot stuff

 Hot stuff The covid-19 pandemic has heavily impacted global uranium production, taking around 20% of global capacity offline. This has exacerbated the supply deficit, leading to users running down inventories at an even faster rate. The net effect has been a rising uranium price (up 32% so far in 2020), but the managers of Geiger …

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 …