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Russia, Kazakhstan threaten to cut uranium exports

The international uranium market is facing growing uncertainty as both Russia and Kazakhstan signal potential disruptions to their exports, which could have far-reaching consequences for Western nuclear energy utilities, particularly in the United States and Europe. With uranium being a critical resource for nuclear power, any significant changes in the supply chain could send ripples through energy markets already sensitive to geopolitical tensions.

In a series of statements made earlier this month, Russia hinted at restricting its uranium exports to the U.S., citing retaliatory measures against Western sanctions.

You can read more on the matter here.

What’s going on?

• Canadian Housing Market Stagnates Despite Rate Cuts (theDeepDive)

• Democratic Senators Call on Fed to Cut Rates by 75 Basis Points (BNN)

• Market Bets on Aggressive Fed Action Ahead of September Meeting This Week (theDeepDive)

• Liberal minister dismisses Elon Musk's satellite offer to Canada as 'nonsense' (NP)

• Fission Uranium: China’s CGN Moves To Block Merger With Paladin Energy (theDeepDive)

• Ottawa raises price cap on insured mortgages to $1.5-million (Globe)

• Sweden Introduces New ‘Remigration Check’ Policy, Raising Concerns Over Forced Migrant Exits (theDeepDive)

• Canada’s New Oil Pipeline Tilts Flows to Asia, Away From US Gulf (Bloomberg)

• Junior Mining Reality: Commodity Prices Drive Stocks with Anthony Milewski of The Oregon Group (theDeepDive)

• US Secret Service 'needs more help' after second Trump gunman, Biden says (Reuters)

• Gov’t Spent $34.8M On Sleeping Bags The Army Can’t Use: “They Can’t Even Get the Sleeping Bags Right” (theDeepDive)

What’s the latest?

• Trump: The FBI is investigating an attempted assassination of Donald Trump at his golf club in West Palm Beach, Florida. A man armed with a high-powered rifle was spotted aiming at Trump while he played golf before U.S. Secret Service agents intervened. The suspect, who fled the scene, was later apprehended.

• Air Canada: Air Canada and its pilots' union reached a tentative four-year labor agreement. The deal prevents potential shutdowns affecting 5,200 pilots and 670 daily flights, ensuring continued service for travelers and business groups. While the union highlighted progress on compensation and work rules, the agreement will remain confidential pending ratification, expected within the next month.

• Manufacturing: Manufacturing sales in Canada increased by 1.4% in July, reaching $71 billion, following a 1.7% decline in June. The rise was driven by a 6.7% gain in the petroleum and coal subsector, totaling $8.6 billion, and a 5.3% increase in chemical product sales, which reached $5.6 billion. In constant dollar terms, manufacturing sales rose by 0.9% for the month.

• Inflation: Economists expect Canada's annual inflation rate for August to drop to 2.1%, the lowest since March 2021, down from 2.5% in July. This anticipated decline is largely driven by falling gasoline prices and a slowdown in core inflation measures. The Bank of Canada, having already cut its key lending rate to 4.25%, may accelerate rate cuts if inflation continues to weaken. Economists forecast further rate reductions, potentially bringing the rate to 2.5% by mid-2025.

• M&A Rumours: Bausch + Lomb shares surged as much as 18% following a report that the company is exploring a potential sale to separate from its debt-heavy parent, Bausch Health. The company, working with Goldman Sachs, is testing buyer interest, with a possible valuation exceeding $13 billion. Bausch + Lomb carries about $4.7 billion in debt, while Bausch Health has over $20 billion.

First Majestic's silver surge

The stock market and stuff

• Air Canada and ALPA Reach Tentative Four-Year Agreement, Details Still Confidential (theDeepDive)

• Sweden will not take stake in Northvolt, prime minister says (Reuters)

• Nestle Gets Rare Sell Rating as Morgan Stanley Adds to Tide of Growing Skepticism (BNN)

• B2Gold Still Targets 2025 First Gold Pour at Goose Project Despite 23% Cost Increase (theDeepDive)

• Boeing strike: bosses bruised, blindsided and on brink of crisis (Reuters)

• IsoEnergy’s Path to Near-Term Uranium Production in Utah with Marty Tunney (theDeepDive)

In the juniors

• Sweden’s Gold Rush: First Nordic’s 100,000 Hectare Opportunity with Adam Cegielski (theDeepDive)

• Plurilock Adds Former Head Of Department Of Justice’s National Security Division To Advisory Council (theDeepDive)

• M&A Surge: Unlocking Value in Junior Miners with Craig Parry of Inventa Capital (theDeepDive)

• FPX Nickel Launches Scoping Study For BC-Based Nickel Sulphate Refinery (theDeepDive)

• Gold Soars: Why Are Jr. Mining Stocks Left Behind? (theDeepDive)

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