There are indications of strengthening of prices in world market of uranium

Almaty. November 17. Kazakhstan Today - There are indications of strengthening of prices in the world market of uranium. For the last month, according to the consulting companies Trade Tech Uranium Information and Ux Consulting Company, prices on oxide uranium (with immediate delivery) on spot market have increased and on New York commodity exchange-raw NYMEX November futures for uranium decreased.

Decrease of spot prices for uranium in October has attracted new buyers to the market, Trade Tech informs.

French group AREVA has suspended sale of uranium until the prices go upwards, which has affected prices for uranium as well.

The price for uranium on spot market has increased after Kazatomprom company declared decrease of extraction of uranium in 2008 - 2009, Bloomberg informed. Manufacture of uranium in Kazakhstan will grow in the long-term plan.

Kazakhstan possesses the fifth part of all world reserves of uranium. The country expects to surpass the level of extraction of Australia and Canada in two years and become the largest manufacturer of uranium in the world. Kazakhstan plans to diversify its economy, which strongly depends on oil.

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