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 …
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 …
French nuclear output hit its lowest point since 2012 in May, falling 22.4% year on year to 24.6 TWh, as power demand remains affected by the coronavirus crisis, preliminary data from TSO RTE data showed on Monday. May nuclear output was 8.6% lower than the previous record low, in records going back to 2012, observed …
The coronavirus crisis is causing the biggest fall in global energy investment in history. Before the pandemic, funding was set to rise 2%, but now it’s predicted to plunge 20%, says the International Energy Agency (IEA). Fossil fuels are hit hardest, with a 30% funding drop expected for oil and a 15% fall for coal. …
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 …
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 …
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 …
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 …
The Kazakh uranium miner produced 7.6 million pounds of U3O8 in the December quarter, taking its full-year attributable production to 29.8Mlb, a 7% fall year-on-year and in line with its plan to keep 20% below permitted output. Kazatomprom’s London listing means it now has to put out quarterly total and attributable production numbers, although the …
Growth in world uranium inventories is slowing as the supply sector is responding to a gradual recovery in uranium demand, according to speakers at the World Nuclear Fuel Cycle (WNFC) conference held in Madrid on 18-19 April. Uranium resources remain plentiful, but the investment needed to bring resources into production depends heavily on the market, …