Kazakhstan / Uranium Prices Rise As Unrest Grips World’s Largest Producer

State company Kazatomprom says ‘no impact’ on output or exports
Uranium Prices Rise As Unrest Grips World’s Largest Producer
Uranium prices jumped as Kazakhstan, the world’s largest producer of the metal, struggles to cope with protests that pose the biggest challenge to the country’s leadership in decades.

The Central Asian nation, a part of the former Soviet Union that produces more than 40% of the world’s uranium, has disrupted communications networks and restricted some travel in a bid to quell the unrest. The Kremlin said Russia and its allies in the Collective Security Treaty Organization were sending “peacekeeping forces” after Kazakh President Kassym-Jomart Tokayev appealed for assistance.

The uranium spot price rose 9% to $45.50 a pound on Wednesday, up from $42 on Tuesday and the highest since Novemberaccording to UxC data. The turmoil could lead to more reliance on suppliers outside Kazakhstan, resulting in a surge in shares of uranium companies in North America and Australia.

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