PDN ASX: Uranium stocks rally after Putin threatens to cut supply

Already a subscriber?Russian President Vladimir Putin has threatened to cut off Western access to its huge uranium reserves in retaliation for sanctions placed on Moscow following its invasion of Ukraine.

“Russia is the leader in strategic raw materials reserves like uranium, titanium, nickel,” Mr Putin said. Since Western sanctions limit exports of some Russian commodities, “maybe we should think about certain restrictions”, he said, adding that such limits should not harm Russia. Indeed, Russia accounted for about 27 per cent of the enriched uranium supplied to US commercial reactors last year. Nuclear reactors require enriched uranium for their fuel.More countries are turning to nuclear power as a form of low-carbon energy. In Australia, Opposition Leader Peter Dutton will take a pro-nuclear policy to next year’s federal election.

The global market’s reliance on Russia’s uranium does not translate into huge financial gains for Moscow, which makes Mr Putin’s threat all the more dangerous, according to uranium bull Guy Keller.

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

PDN ASX: Paradice’s Sam Theodore sees riches in these ASX uranium stocksThe former Blackrock hedge fund manager’s recent trip to Paladin’s flagship Namibia mine has made him more bullish on the controversial energy source.
La source: FinancialReview - 🏆 2. / 90 Lire la suite »

PLS ASX: Lithium, uranium stocks rally as investors turn bullish on commoditiesAustralian miners are on track for their best week so far this year as investors rush back to the beaten-up sector in hopes the commodities comeback is just beginning.
La source: FinancialReview - 🏆 2. / 90 Lire la suite »

The ASX’s uranium stocks are on a bull run – except this oneYou could not pick a better day to launch a uranium play’s equity raising. Stocks are flying. But investors see one company as nothing but a giant hole.
La source: FinancialReview - 🏆 2. / 90 Lire la suite »

ASX 200 LIVE: ASX dips; gold stocks rally; a2 Milk plunges 18pcSubdued trading at noon; Westpac posts $1.8 billion in unaudited net profit; Lendlease swings to $1.5 billion loss; a2 Milk says market conditions in China remain challenging; Ampol slashes interim dividend. Follow here for more.
La source: FinancialReview - 🏆 2. / 90 Lire la suite »