Speculation Pushes Uranium Prices Up Over Kazakh Riots

Kazakhstan is the world largest exporter of Uranium (40%). On Wednesday, uranium prices on the international spot market jumped to $45.25 a pound from the $42 recorded the day before, according to data from nuclear fuel market research and analysis firm UxC, as quoted by Bloomberg. At the same time, shares of Kazatomprom, the country’s largest uranium producer, sank by 11% on the London Stock Exchange. However, Kazatomprom spokesmen told Reuters, “Uranium mining is going according to plan. There have been no stoppages. The company is fulfilling its export contracts.”