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 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 …
The price of uranium, the radioactive material used to fuel nuclear power stations, has entered a bull market following another big hit to supply. On Tuesday, Kazakh miner Kazatomprom slashed its 2020 production forecast by up to 10.4m pounds, equivalent to 8 per cent of global supply, because of government-imposed measures to mitigate the spread …
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, 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 …
France intends to ensure the continuity of uranium production in northern Niger, Nicolas Maes, head of Orano’s mining business unit, said following an 11 March audience with Nigerien Prime Minister Birgi Rafini. This will mean ensuring that Orano subsidiary Somaïr can continue operating for as long as possible, or at least until the Imouraren project …
Iran has tripled its stockpile of enriched uranium to 1,020.9 kg over the past three months and failed to provide International Atomic Energy Agency inspectors access to two undeclared sites, various news agencies reported yesterday. Citing confidential documents issued by the IAEA to its member states, they reported that Tehran had refused the IAEA access …
India will renew its pact with Kazakhstan for supply of uranium from 2020 to 2024, the ambassador of the central Asian country said on Monday. Kazakhstan has so far supplied a total of 9,000 tonnes of uranium, and another 1,000 tonne is yet to be delivered under two five-year contract periods that end this year. …
Dual-listed Cameco remains on track to achieve its guidance for the full-year and has increased its revenue target for the year. According to CEO and president Tim Gitzel, the uranium company continues to demonstrate its resilience. During the third quarter, ended September 30, Cameco continued to deliver on its strategy, and further strengthened its balance sheet …
A new facility, or bank, opened that will deliver low enriched uranium (LEU) to an International Atomic Energy Agency (IAEA) facility in Kazakhstan. “This is a historic achievement for the IAEA and the government of Kazakhstan, and I am grateful for the hard work and perseverance needed to make this Bank a reality,” Nuclear Threat …