The big players in global uranium production are back in business.
-Kazatomprom restarts production
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-The weekly spot price increases by 1% in two weeks
The world's largest uranium producer, Kazatomprom, reported this week that activities at all of its mining operations in
Well field development drilling and the associated work to bring on new well fields began to ramp up in August, notes industry consultant TradeTech. This follows the recent reduction of non-essential staff at the outset of the pandemic.
The company's production guidance for FY21 remains unchanged.
Meanwhile, the world's second largest uranium producer,
The quarter was also impacted by ongoing purchase activity and additional care and maintenance costs of
The company posted a net loss of -
Uranium Pricing
TradeTech's Weekly Uranium Spot Price Indicator is at
Total spot uranium transactional volume for the first week of November totalled around 800,000lbs U3O8 equivalent.
Although the Weekly Spot Price Indicator has moved up by 1% in the last two weeks, volatility in the indicator remains on a downward trajectory. Movement in the weekly spot price has tended to be relatively minor since May and has generally trended downward averaging a
Nonetheless, the Weekly Spot Price Indicator has increased nearly 22% in the last year and has averaged a 0.5% weekly increase in 2020 (largely attributable to increases in the price related to several covid-driven supply reductions).
The average weekly uranium spot price for 2020 is
TradeTech's term price indicators are unchanged at
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