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World’s biggest uranium miner says unaffected by Kazakh turmoil -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: Police are visible at Almaty’s main square, where hundreds protested against the government after it lifted price caps for liquefied Petroleum Gas. REUTERS/Mariya Gordeyeva

ALMATY (Reuters – Kazatomprom said Thursday that it is operating normally with no effect on exports or output despite the unrest in Kazakhstan.

After unrest in Kazakhstan, which was initially sparked by protests against rising fuel prices, prices rose. According to Platts, spot prices reached $45.5 per pound Wednesday. This is the highest level since November 30th.

Key industries are not affected by central Asian’s political turmoil.

“The mining of Uranium has gone according to plan. There have not been any stoppages. Kazatomprom spokeswoman stated that the company has fulfilled its export agreements.

A spokesperson from the Caspian Pipeline Consortium, which transports the country’s main export mixture, stated earlier that the organization was functioning normally.

Kazatomprom’s production was approximately 23% of the global primary-uranium output for 2020 according to its website.

Kazatomprom was down nearly 5% in London on Thursday. It is the lowest level since mid-September, and adds to Wednesday’s drop of 8%. Still, shares of other uranium producers like Cameco in Canada (NYSE) are up almost 12% thus far this year.

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