World's biggest uranium miner says unaffected by Kazakh turmoil (updated)

Natsional'naya Atomnaya Kompaniya Kazatomprom AO

06/01/2022 12:25

(Updates, adds detail and share prices)
    ALMATY, Jan 6 (Reuters) - Kazatomprom  KZAP.KZ   KAPq.L ,
the world's biggest uranium producer, said on Thursday it was
operating normally with no impact on output or exports despite
unrest in Kazakhstan.
    Uranium prices have risen after unrest in Kazakhstan which
was spurred initially by protests against fuel price hikes. Spot
prices hit $45.5 per pound on Wednesday, the highest since
November 30, according to a Platts assessment.
    But the central Asian country's political turmoil does not
seem to have so far affected key industries. 
    "Uranium mining is going according to plan there have been
no stoppages. The company is fulfulling its export contracts," a
Kazatomprom spokesperson said. 
    And earlier a spokesperson for the Caspian Pipeline
Consortium, the group that transports the country's main crude
oil export blend, said it was operating normally  urn:newsml:reuters.com:*:nR4N2SS024.
    Kazatomprom's attributable production represented
approximately 23% of global primary uranium output in 2020,
according to the company's website.
    Kazatomprom's London-listed shares were down almost 5% on
Thursday, to the lowest since end-September and adding to
Wednesday's 8% drop. But shares in other uranium producers, such
as Canada's Cameco  CCO.TO , are up nearly 12% so far this year.
 

 (Reporting by Mariya Gordeyeva, Olzhas Auyezov, Polina Devitt;
writing by Sujata Rao; editing by Alexander Smith)
 ((sujata.rao@thomsonreuters.com; +44 207 542 6176;))