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Uncertainty Surrounds The World's Largest Uranium Supply

Uranium

In the aftermath of the holiday season, it’s the former Soviet Union in the spotlight, with verbal tensions rising–at least on this side of the Atlantic–over Ukraine’s border and Kazakhstan imploding with gas price hikes managing to take down an entire government, putting the world’s largest uranium supply in a state of dangerous uncertainty. 

While the fuss over Ukraine is only partially contributing to Europe’s record-high gas prices (there are many other factors contributing), the violent unrest in Kazakhstan, which has now seen Russian military intervention, is having an immediate impact on uranium prices. Until now, and for the 29 years that Nazarbayev ruled Kazakhstan in an authoritarian style, Western investors have of course viewed the largest uranium producer (and major oil producer) as a very stable place to park their money. Protests, the security force’s response, the government’s resignation, and now Russian military intervention destroys that stability overnight.

The week started out with mass protests (almost unheard of in this country) over a 100% hike in gas prices that prompted security forces to use stun guns and tear gas, which only served to exacerbate tensions. By Wednesday, protesters had stormed the presidential residence, setting fire to it, and the government was forced to resign. By Friday morning, the president had ordered security forces to “shoot to kill” protesters, branding them “criminals and murderers” with whom there would be…





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