Shaking up the global uranium market, Kazakhstan introduced a new Mineral Extraction Tax for uranium, significantly increasing rates from 2026 onwards.
Significantly, Kazakhstan is the world's largest uranium producer thus this new tax structure is expected to discourage uranium production growth in Kazakhstan, likely driving uranium prices higher due to the reduced supply.
As the world is continually looking toward nuclear energy as a viable green energy option, this is a major shock to the market and led to a surge in uranium mining stocks following the announcement. (Source: https://oilprice.com/Alternative-Energy/Nuclear-Power/Kazakhstans-Surprise-Tax-Increase-Shakes-Up-Global-Uranium-Market.html)
A Groundbreaking Uranium Exploration Project in the Athabasca Basin
Located in Canada's Athabasca Basin, Aero Energy's (AERO.v AAUGF) Murmac Uranium Project has attracted significant attention amid its recently commenced 10,000m drilling program following the intersection of strong and highly elevated radioactivity, with initial findings pointing to a robust uranium mineralization system.
An average of 1,309 counts per second was intersected over 8.7m in graphitic pelite with up to 33,600 counts per second associated with visible uranium mineralization.
Targeting over 50 shallow drill-ready locations, AERO's current program is aiming to discover high-grade basement-hosted uranium deposits, with drill targets noted for their cost-efficiency and average hole depths of 200 meters.
Driven by growing government support for nuclear energy as part of a green transition strategy, the uranium market has seen a price increase, and AERO's exploration efforts aim to capitalize on this trend by discovering large, high-grade uranium deposits.
For more information, refer to AERO's latest news release: https://aeroenergy.ca/2024/aero-energy-and-fortune-bay-hit-strong-radioactivity-murmac-uranium-project/
Posted on Behalf of Aero Energy Ltd.