Nickel price hits 4-year low as gloom offsets potential Indonesia cuts
Indonesia is now considering deep cuts to nickel mining quotas as it seeks to boost slumping prices of the metal.
Voters in Kazakhstan, the world’s largest uranium miner, backed the construction of a nuclear power plant in a referendum on Sunday.
Kazakhstan’s central election commission said on Monday that 71% of voters cast their ballots in favor of the government plan to build a new reactor. Turnout was about 64%, well above the threshold necessary for the result to be valid, the commission said, citing preliminary calculations.
Central Asia’s largest oil producer hasn’t used nuclear generation since 1999. The country has been grappling with a power shortage partly due to growth in the energy-intensive crypto industry and emergency shutdowns at old plants. The nation is seeking to significantly expand power generation by 2035, with nuclear sources as part of the mix, according to the Energy Ministry. The ministry said an initial estimate for the cost of the nuclear power plant was about $10 billion-$12 billion.
Kazakhstan’s backing for atomic energy underscores rising global interest in stable, round-the-clock nuclear power as countries attempt to meet rapidly rising energy demands while also reducing dependence on fossil fuels to slash emissions.
China National Nuclear Corp, Korea Hydro & Nuclear Power Co., Russia’s Rosatom Corp and Electricite de France SA were on a list of possible builders, according to a presentation from the Energy Ministry.
“My personal opinion is that an international consortium, consisting of global companies with the most advanced technologies, should work in Kazakhstan,” President Kassym-Jomart Tokayev said after he cast his vote on Sunday, according to his press office.
The nation had a 1.5 gigawatt power deficit last fall and winter, according to the Energy Ministry. Kazakhstan covers the shortfall by buying electricity from Russia.
(By Nariman Gizitdinov)
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