Pull towards Russia and China grows stronger, says boss of Kazatomprom
Kazatomprom’s chief executive has warned that Russia’s war on Ukraine is making it harder for the world’s largest uranium producer to keep supplying the west as the gravitational pull towards Moscow and Beijing grows stronger.
Meirzhan Yussupov, chief of the Kazakh state miner, said sanctions caused by the war had created obstacles to supplying western utilities. Kazakhstan produces 43 per cent of the world’s uranium, equivalent to the market share that the Opec cartel has over oil.
“It is much easier for us to sell most, if not all, of our production to our Asian partners — I wouldn’t call [out] the specific country . . . They can eat up almost all of our production, or our partners to the north,” he told the Financial Times. He added however: “It’s much easier to sell to them but we don’t want to put all our eggs in one basket.”
For the rest of this article: https://www.ft.com/content/b8b34ec4-20ca-4c00-937b-fc620ae7503e