Shares in the world’s top uranium miner plummet amid massive protests in Kazakhstan
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(Kitco News) - Shares in Kazatomprom, the world's largest uranium producer, fell 9% on the London Stock Exchange today as massive protests in Kazakhstan heat up following energy prices hike in the country.
Kazakhstan, the world's top uranium producing country, is responsible for 41% of the global supply of primary uranium, according to the World Nuclear Association.
Canadian uranium mining giant Cameco owns 40% in uranium JV Inkai in Kazakhstan.
According to Cameco, the company is entitled to purchase 5.3 million pounds, or 59.4% of JV Inkai's updated planned 2021 production of 9.0 million pounds, “assuming no production disruptions due to the COVID-19 pandemic or other causes."
There is no news from Cameco and Kazatomprom about the situation in Kazakhstan yet. The country is reportedly hit by internet blackout.
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