- Write by:
-
Wednesday, May 4, 2022 - 15:15:50
-
713 Visit
-
Print
Mining News Pro - Kazakhstan-focused uranium miner Kazatomprom raised its 2022 revenue guidance, as geopolitical tensions and discussion of new nuclear projects spur higher prices.
The world’s largest uranium miner lifted its revenue forecast to KZT790-810 billion tenge ($1.78-1.83 billion), up from KZT610-630 billion previously.
Production and sales volume guidance for 2022 are unchanged.
Kazakhstan’s national uranium company reported that its production rose 1% on year in Q1, although attributable output declined 4%.
Total sales volumes doubled in the period, reflecting the timing of customer-scheduled deliveries. Realized uranium prices were 33% higher.
Natural uranium product coming from Kazakhstan accounts for more than 45% of the global primary supply.
Geopolitical tensions
The Russia-Ukraine conflict has deepened the ongoing nuclear fuel access concerns that began following the covid-related disruptions to uranium supply in 2020.
Although there have been no restrictions imposed on nuclear fuel to date, negative sentiment has increased and legislative initiatives have been proposed by EU and US lawmakers to ban nuclear fuel imports from Russia.
“The uncertain future availability of Russian fuel and processing services has brought concerns related to security of supply for western utilities, driving an increase in both spot and term market activity, putting significant upward pressure on natural uranium, conversion and enrichment prices,” said Kazatomprom.
“As a result of the geopolitical developments stemming from the Russia-Ukraine war, spot price rose to $58.30/lb U3O8, a level not seen since April 2011.”
Short Link:
https://www.miningnews.ir/En/News/621214
The Senate voted Tuesday evening to approve legislation banning the import of enriched uranium from Russia, sending the ...
Canadian miner Barrick Gold on Wednesday beat first-quarter profit estimates on higher bullion prices and said it has ...
BHP Group can’t cherry pick Anglo American assets without paying a hefty premium, Anglo investors told Reuters, ...
Glencore expects profit at its trading division this year to be at the top end of its long-term annual guidance, in an ...
The Biden administration is considering banning imports of enriched Russian uranium using executive authority as ...
BHP Group Ltd.’s proposal for a $39 billion takeover of rival Anglo American Plc is all about securing plenty of copper ...
Marex Group Plc and a group of the London-based firm’s shareholders raised about $292 million in a US initial public ...
Australian miner Lynas posted a slump in third-quarter sales revenue on Wednesday, missing analyst expectations on the ...
The Democratic Republic of Congo’s government notified Apple Inc. of concerns that the company’s supply chain may be ...
No comments have been posted yet ...