Uranium Week: Kazakhstan Capitalism

Weekly Reports | Nov 20 2018

The long awaited IPO of a stake of Kazakhstan's state-owned uranium producer went ahead last week, pending listing in London.

-Kazatomprom IPO oversubscribed
-Spain to phase out nuclear power
-Spot price ticks up again

By Greg Peel

Last week the annual United Nations' Economic Commission for Europe's Ministerial Conference of the International Forum of Energy for Sustainable Development, typically abbreviated to the much simpler UNECEMCIFESD, was held. This year's event provided a milestone.

For the first time, nuclear power was included in the program.

World Nuclear Association Director General Agneta Rising said in Kiev, "Substituting energy supplied by fossil fuels with electricity generated from nuclear energy and other low-carbon sources is a practical proposition to deliver a clean energy transition".

The Spanish minister clearly nodded off, given last week Spain announced the country would shut down its last coal-fired and nuclear power plants before 2030. By then the world's fifth largest economy hopes to be sourcing 70% of its electricity from renewable sources, and by 2050 the plan is for solar, wind and hydro-power to account for 100%.

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