Australian uranium producers rise on prospects of supply shortage and higher prices

Cameco

03/01/2025 01:12

** Australian uranium producers rise after a potential supply shortage and subsequent higher
metal prices 
    ** Overnight, Canadian uranium miner Cameco  CCO.TO  suspended production at its Inkai joint
venture with Kazatomprom  KZAP.KZ  in Kazakhstan due to delay in paperwork submission
    ** "Delays at Inkai could impact both CCO and KZAP's production outlook, contributing to
market tightness and potentially leading to higher uranium prices," said George Ross, senior
analyst, metals and mining research at Argonaut 
    ** "This is positive for uranium producers like BOE and PDN, who have production ramping up
at their respective operations" — Ross
    ** Local uranium producers Paladin Energy  PDN.AX  and Boss Energy  BOE.AX  fell as much as
nearly 12.5% each 
    ** PDN rose to its highest level since Nov. 11 while BOE touched its highest level in over a
month

 (Reporting by Sneha Kumar in Bengaluru)
 ((Sneha.Kumar@thomsonreuters.com))