Kazakhstan to Increase Uranium Output Fivefold, Overtake Canada

Kazakhstan, the world’s third-biggest uranium producer, plans to increase output fivefold within a decade and overtake Canada as the largest supplier of nuclear fuel.

“It’s important for Kazakhstan to get the maximum stake in the nuclear fuel market,” Dzhakishev, 44, said from Almaty. “The price of uranium will definitely continue to rise because of the excessive demand. The shortage of uranium will reach a critical level in 2014.”
Record oil and coal prices, combined with the threat of global warming, spurred demand for nuclear power and uranium to fuel reactors. Uranium rose to a record $138 a pound in June, compared with $6.75 as recently as 2001, as rising consumption forced manufacturers to recycle nuclear warheads to meet demand.

Bloomberg