Uranium stocks slip after world's biggest miner says unaffected by Kazakh turmoil

Ur-Energy

06/01/2022 15:48

(Updates)
    ** Shares of uranium firms down after Kazatomprom  KZAP.KZ ,
the world's biggest uranium producer, said it was operating
normally with no impact on output or exports despite unrest in
Kazakhstan 
    ** "Uranium mining is going according to plan; there have
been no stoppages. The company is fulfilling its export
contracts," a Kazatomprom spokesperson said (https://reut.rs/3GdNfKY)
 
    ** 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
    ** Uranium Energy Corp  UEC.N  and U.S.-listed shares of
Cameco Corp  CCO.TO ,  CCJ.N  fall 6.87% and 5.67% respectively 
    ** Centrus Energy Corp  LEU.A  lost 4.23%, while Denison
Mines  DML.TO , Ur-Energy  URG.A , Energy Fuels  UUUU.K  slip
~8% each 
    ** Global X Uranium ETF  URA.P  down 5%

 (Reporting by Anisha Sircar and Rithika Krishna in Bengaluru)
 ((Anisha.Sircar@thomsonreuters.com;))