Uranium stocks jump as top exporter Kazakhstan tackles deadly protests
06/01/2022 11:27
** Shares of uranium firms jump premarket as Kazakhstan
crisis escalates amid talks that political unrest could hit
supply and drive the heavy metal's prices higher
** The former Soviet state is the world's biggest supplier https://www.reuters.com/article/us-cameco-hot-idUSKBN1DY223
of uranium, with the unrest sparking concerns of shortages
** Uranium prices traded at about $42 a pound as of Monday,
according to precious and base metal website Kitco Metals http://www.kitcometals.com,
as well as prices published by uranium giant Cameco Corp https://www.cameco.com/invest/markets/uranium-price
** Uranium Energy Corp UEC.N and U.S.-listed shares of
Cameco Corp CCO.TO , CCJ.N rise ~5%
** Centrus Energy Corp LEU.A gains 2%, while U.S.-listed
shares of Denison Mines DML.TO , DNN.N , Ur-Energy URG.A ,
Energy Fuels UUUU.K add between 2% and 4% premarket
** Global X Uranium ETF URA.P climbs 3%
** Kazakh unrest began as protests against rising prices of
liquefied petroleum gas, but quickly spread into broader
anti-government riots
** Russia on Thursday sent paratroopers into Kazakhstan to
quell uprising after deadly violence spread across the state
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(Reporting by Anisha Sircar in Bengaluru)
((Anisha.Sircar@thomsonreuters.com;))