Latest news with #Kazakhstan
South China Morning Post
a day ago
- South China Morning Post
Chinese police mount Xinjiang manhunt for fugitive wanted over wounding of 2 people
Police in China's far western region of Xinjiang are appealing for the public's help to find a fugitive wanted over the wounding of two people near the border with Kazakhstan. The authorities did not offer a motive for the attacks but the incident is one of the few publicly reported cases in recent years of intentional harm in Xinjiang – a region that is strictly controlled and politically sensitive. Police are searching for a 29-year-old herder identified as Kasitiele wanted in relation to the attack last Thursday in Huojierte Mongol ethnic township in Emin county. The man is a resident of the county's Woyijiayilao Pasture on the outskirts of Tacheng prefecture, an area in northern Xinjiang close to the border with Kazakhstan. The pasture is home to 14 ethnic groups, including Han, Kazakh, Hui and Kyrgyz, with ethnic minorities accounting for over 90 per cent of the population. Police in neighbouring Yumin county said on Wednesday that both victims of the attack were in a stable condition and did not have life-threatening injuries. They urged the public to report any relevant information and 'to not believe, create or spread rumours'.
Yahoo
2 days ago
- Business
- Yahoo
Global uranium production expected to grow modestly in 2025, due to temporary mine disruptions
After an estimated 12.4% rise in 2024, global uranium production is projected to grow by 2.6% to 62.2 kilotonnes in 2025. Growing global concerns about climate change and the need for low-carbon energy sources, including for power-hungry data centres, have led to renewed interest in nuclear power. However, despite this positive outlook, production growth in 2025 is expected to be moderate due to temporary disruptions at major mines such as Kazakhstan's Inkai deposit. On 1 January 2025, operating activities at the Inkai mine were suspended due to Inkai LLP's failure to secure the requisite approvals from the relevant authorities. This lack of essential permits compelled the company to halt production. Theproduction suspension was subsequently resolved later that month when the necessary paperwork was finalised. However, leading data and analytics company GlobalData anticipates this temporary disruption to result in a 2.5% decline in the country's uranium output in 2025. In Canada, uranium production has been significantly supported by the restart of major mines, including McArthur River. Previously shut down due to low prices and difficult market conditions, these mines have resumed operations and contributed to Canada's position as the second-largest uranium producer, with a 23.4% share of global output in 2024. Meanwhile, Namibia's uranium sector is poised for substantial growth following a period of subdued production. In 2024, production reached 7.1 kilotonnes, driven by the restart of the Langer Heinrich mine. Looking ahead, a 17.5% year-over-year increase is expected in 2025, mainly due to the ramp-up at Langer Heinrich and stable output from Husab and Rossing. Looking ahead, over the forecast period, global uranium production is expected to grow at an 8% compound annual growth rate (CAGR), reaching 91.6 kilotonnes by 2030. Several uranium projects are under development or expansion, particularly in key production regions such as Kazakhstan, Canada, and Australia, positioning the industry for long-term growth as demand for nuclear energy continuesto rise. "Global uranium production expected to grow modestly in 2025, due to temporary mine disruptions" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
3 days ago
- Automotive
- Yahoo
Shavkat Rakhmonov's wife and son in stable condition after involvement in car crash that killed two
UFC contender Shavkat Rakhmonov's wife and son are in stable condition after getting involved in a car crash that took the lives of two others in the Zhambyl region of Kazakhstan on Sunday. On Monday, Rahkmonov's manager, Daniel Rubenstein, confirmed to MMA Fighting that his wife and son are stable after being hospitalized following the wreck. The accident was initially reported by the Kazakh news outlet, Kursiv. According to the outlet, the person driving a Toyota Land Cruiser 200 lost control of the vehicle before it flipped over. There's no information on the two people who died in the accident. A photo of the overturned vehicle was later posted on social media, showing the totaled SUV lying on what appears to be the side of the Almaty-Yekaterinburg highway. No information has been given about the two victims and Rakhmonov is yet to speak about the accident. Rakhmonov is ranked third in the UFC Welterweight division with a flawless 19-0 record. Nomad has eight knockouts, 10 submissions and nine first-round finishes in his career. His most recent victory came in a decision against Ian Garry in December after submitting Stephen Thompson in 2023. His next fight is yet to be scheduled, while divisional champion Jack Della Maddalena is expected to face Islam Makhachev for the title next.
Zawya
3 days ago
- Business
- Zawya
OPEC+ panel stresses need for full compliance with output limits
An OPEC+ panel on Monday stressed the need for full compliance with oil production agreements, ahead of Sunday's separate gathering of eight OPEC+ members to decide on increasing oil output for September. Ministers from the Joint Ministerial Monitoring Committee, which includes top energy ministers from the Organization of the Petroleum Exporting Countries and allies led by Russia, convened online for brief talks. The JMMC meets every two months and has the power to call for a full meeting of OPEC+ to address market developments if deemed necessary. "The committee reiterated the critical importance of achieving full conformity and compensation," OPEC said in a statement after the meeting. Compensation cuts are those that some countries, such as Iraq and Kazakhstan, are being asked to carry out to make up for earlier overproduction. The JMMC asked countries that are not fully compliant to submit updated compensation plans by August 18. OPEC, in a post on X late on Friday, said the committee does not hold decision-making authority over production levels, and "its role is limited to monitoring conformity with production adjustments and reviewing overall market conditions". OPEC+, which pumps about half of the world's oil, has been curtailing production for several years to support the market. But it reversed course this year to regain market share, and as U.S. President Donald Trump demanded OPEC pump more to help keep a lid on gasoline prices. Eight members began to raise output in April and since then have accelerated the hikes. Their most recent decision calls for an oil output increase of 548,000 barrels per day in August. The eight countries hold a separate meeting on August 3 and remain likely to agree to a further 548,000 bpd increase for September, three OPEC+ sources said last week, as reported by Reuters earlier this month. This would mean that, by September, OPEC+ would have unwound its most recent production cut of 2.2 million bpd, and the United Arab Emirates would have delivered a 300,000 bpd quota increase ahead of schedule. Oil prices have remained supported despite the OPEC+ increases thanks to summer demand and the fact that some members have not raised production as much as the headline quota hikes have called for. Brent crude was trading above $70 a barrel on Monday. (Reporting by Ahmad Ghaddar, Olesya Astakhova and Alex Lawler. Editing by Mark Potter)
Yahoo
4 days ago
- Business
- Yahoo
Where Will Cameco Stock Be in 3 Years?
Key Points Cameco's stock recently hit an all-time high. Uranium's soaring commodity price is driving that rally. But it still looks reasonably valued relative to its growth potential. 10 stocks we like better than Cameco › Cameco (NYSE: CCJ), one of the world's top uranium miners, usually isn't a high-growth stock. But over the past three years, its price surged about 250% and now hovers near its all-time high. The S&P 500 only rose 60% during the same period. Let's see why Cameco's stock crushed the market, and if it can keep climbing over the next three years. A look back at Cameco's lost decade Cameco, which is based in Canada, owns uranium mines and mills across Canada, the U.S., and Kazakhstan. It mined roughly 17% of the world's uranium in 2024, making it the second largest uranium miner after Kazatomprom (OTC: NATK.Y), Kazakhstan's national mining company. From 2011 to 2021, Cameco's annual revenue dropped from $2.41 billion to $1.18 billion (in U.S. dollars) without a single year of revenue growth. That decline started after the Fukushima nuclear disaster in March 2011, which triggered a global collapse in uranium prices as many countries cautiously reined in their nuclear energy plans. Uranium's spot price plunged from more than $70 per pound before the Fukushima disaster to less than $20 in 2017, and Cameco was forced to suspend work at its biggest mines and throttle back its production to conserve its cash. Before the uranium market could recover, the COVID pandemic disrupted the market again and forced the company to temporarily shut down more of its mines. The weak Canadian dollar exacerbated that decline because the miner sold its uranium in U.S. dollars. What happened over the past three years? But from 2021 to 2024, Cameco's revenue had a compound annual growth rate (CAGR) of 29% in Canadian dollar terms. Its gross margins also expanded to the double digits over the past two years. Metric 2022 2023 2024 Revenue growth 27% 39% 21% Gross margin 0.1% 21.7% 25% Data source: Cameco (all figures in Canadian dollar terms). That robust recovery was driven by uranium's spot prices, which soared from $29.63 in January 2021 to $78.50 this June. That rally prompted Cameco to restart its mining operations at McArthur River in Australia and Key Lake in the Canadian province of Saskatchewan in 2022 after being suspended in 2018. It also partnered with Brookfield Asset Management to acquire the nuclear power plant designer and builder Westinghouse Electric in late 2023. Its new 49% stake in Westinghouse should offset the volatility of its core mining business and make it the top uranium supplier for those plants. Several catalysts drove uranium's price higher over the past few years. The global supply shrank as Cameco and Kazatomprom curbed their production, but the demand rose as more countries initiated new nuclear energy plans and resumed their idled projects. Other global challenges are keeping uranium prices elevated. Russia, which was a major exporter of enriched uranium products and services to the U.S. and Europe, was hit by sanctions and export bans after its invasion of Ukraine in early 2022. Kazatomprom's supply chain issues and a coup in Niger (another key producer of uranium) in 2023 further reduced the global supply while driving more nuclear energy companies to buy their uranium from Cameco. What will happen to Cameco over the next three years? The bulls expect uranium's price to soar even higher as the market's demand continues to outstrip its available supply. The rapid growth of the cloud and AI data center markets -- which are driving more companies to consider using next-gen nuclear energy solutions like small modular reactors (SMRs) and microreactors -- could amplify those gains. Looking ahead, Cameco's 49% stake in Global Laser Enrichment (GLE) -- its uranium enrichment joint venture with Silex -- could transform it into a one-stop shop for nuclear power as it integrates those uranium enrichment capabilities into its core mining and conversion businesses. The International Atomic Energy Agency (IAEA) expects the world's nuclear capacity to expand by up to 2.5 times from 2024 to 2050, so Cameco could still have plenty of room to grow over the next few decades. From 2024 to 2027, analysts expect Cameco's revenue to have a CAGR of 8% (in Canadian dollar terms) as its adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) have a CAGR of 16%. Its growth should cool off as it laps the big spike in uranium spot prices, the restarting of its mines, and its investment in Westinghouse Electric, but it still looks reasonably valued at 25 times this year's adjusted EBITDA. So even though Cameco's stock is trading near its all-time high, it could rise even higher over the next three years. Should you invest $1,000 in Cameco right now? Before you buy stock in Cameco, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Cameco wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $636,628!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,063,471!* Now, it's worth noting Stock Advisor's total average return is 1,041% — a market-crushing outperformance compared to 183% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 21, 2025 Leo Sun has no position in any of the stocks mentioned. The Motley Fool recommends Brookfield Asset Management and Cameco. The Motley Fool has a disclosure policy. Where Will Cameco Stock Be in 3 Years? was originally published by The Motley Fool Sign in to access your portfolio
