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Energy Fuels says could ramp uranium output if Kazakh supply dips

6th January 2022

By: Reuters

  

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US-based Energy Fuels said on Thursday it could start producing 500 000 lb/y of uranium within six months if prices for the nuclear fuel rise due to the political unrest in Kazakhstan.

Energy Fuels says its production could then ramp to 2.5-million pounds a year within 18 months if spot prices, which hit $45.50/lb on Wednesday, rose "moderately higher" and a customer signed a long-term contract.

Energy Fuels does not produce any uranium currently due in part to low prices - fueled by Kazakhstan's control of more than a fifth of the global market - though it has reserves in Utah, Texas and Wyoming.

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Edited by Reuters

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