How Chevron Is Shaking Up The Uranium Industry

Thu, 05/24/2012 - 03:29 EDT - Seeking Alpha

By Vatalyst:
Far away from Astana, the glitzy capital of Kazakhstan, uranium exploration is taking place at an unprecedented rate. Located in the steppe region of Southern Kazakhstan, Inkai is as desolate and cold as it can get in Central Asia. However, this region holds some of the largest uranium reserves in the world. At the moment, Kazakhstan is the largest producer of uranium, and international companies know that their chances of becoming major uranium companies depend on their stakes in Kazakhstan.Chevron (CVX) has undertaken uranium exploration projects in McDermitt Caldera in the U.S., but I think it is about time it ventured into the steppes of Kazakhstan. If Chevron decides to venture into Kazakhstan, its main competitor would be Cameco (CCJ). The uranium mines at Inkai are owned 60% by Cameco and the rest is owned by Kazatomprom. Kazakhstan's dictator Nursultan Nazarbayev is central to the development of uranium projectsComplete Story »

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How Chevron Is Shaking Up The Uranium Industry

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