According to a recent report by Reuters, Russian President Vladimir Putin suggested that Russia should consider imposing restrictions on the exports of minerals such as uranium, titanium, and nickel as a response to Western sanctions. Putin highlighted Russia’s significant reserves of strategic raw materials, including natural gas, gold, and diamonds, and proposed the idea of restricting certain exports to the global market.
As of the latest update, the spot price of uranium stands at US$79.45 per pound, showing a slight increase from the previous week’s price. Energy Fuels (TSX:EFR) is planning to resume production at its Nichols Ranch in-situ recovery uranium mine in Wyoming, with expectations to begin production in a specific area by July 1, 2025. Stallion Uranium (TSXV:STUD) has identified nine high-priority target areas within its land package in the Athabasca Basin, while GMV Minerals (TSXV:GMV) has initiated drilling at its Daisy Creek lithium/uranium project in Nevada.
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