China said it is willing to continue "normal economic and trade cooperation" with countries around the world, including Russia.

UEC’s results come as the uranium spot price, at $78.50 per lb. on Thursday, continues to trend slightly downward.

Kazatomprom CEO has said that the Ukraine war is making it harder to supply the west.

Mining companies alone made up one-fifth of this year's TSX30 list.

"It is much easier for us to sell most of our production to Asian partners," CEO Yussupov told the FT.

The project is also being supported Tennessee's Nuclear Energy Fund, which has about $60 million in approved funding.

BMO expects uranium demand to grow by 2.9% yearly through 2035, driven by China’s push to build new reactors and the potential for reactor restarts in North America.