Uranium prices rise

In January, there were massive protests in Kazakhstan against increased gas prices, with more than 200 people losing their lives and thousands injured. Human rights organizations and the EU are demanding clarification, but President Kassym-Jomart Tokayev refuses to do so. This creates uncertainties for the uranium supply coming from Kazakhstan. This could drive the uranium price up further.

After a fulminant price increase in September last year – it was a price increase of about 24 percent and thus the best monthly performance – uranium can become even more expensive. Kazakhstan, after all, produces more than 40 percent of the world’s uranium. Now, communications networks are disrupted and there are restrictions on travel to quell the unrest. Nonetheless, the bet is on higher uranium prices as governments turn away from fossil fuels. Incidentally, the unrest in Kazakhstan also affected the share prices of uranium companies. While share prices fell at Kazatomprom, the largest uranium company, many North American uranium companies, on the other hand, rose in price. This is also against the background of the European Union’s plan to label certain nuclear projects as sustainable. In any case, this raises doubts as to whether Kazakhstan can be completely relied upon for uranium supplies.

Uranium projects outside Kazakhstan are therefore of particular interest, such as the projects of Consolidated Uranium or of Uranium Energy.

Consolidated Uranium – https://www.youtube.com/watch?v=pykE9CRrrCc – has a portfolio of uranium projects in Australia, Canada, Argentina and the USA. Among them, for a quick restart, are permitted uranium mines in Utah and Colorado.

Uranium Energy – https://www.youtube.com/watch?v=4-kdD_OUsZo -, debt-free, has seven ISR uranium projects in the USA, among others, with key permits already in place.

Current corporate information and press releases from Consolidated Uranium (- https://www.resource-capital.ch/en/companies/consolidated-uranium-inc/ -) and Uranium Energy (- https://www.resource-capital.ch/en/companies/uranium-energy-corp/ -).

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