HK Stock Market Move | CGN MINING (01164) rose more than 6% as Russia restricts exports of enriched uranium to the United States. Institutions are bullish on the continued increase in uranium prices.

CGN MINING (01164) rose more than 6%, reaching 6.63% at the time of publication, at HK$1.77, with a trading volume of HK$68.7635 million. On the news front, on Friday (November 15) local time, the Russian government announced that it will temporarily restrict the export of enriched uranium to the United States. This move is in response to the US previously banning the import of Russian uranium. Russia is the world's largest supplier of uranium. According to data from the US Department of Energy, Russia accounts for approximately 44% of the global uranium enrichment capacity, with approximately 35% of US nuclear fuel imports coming from Russia. Zheshang previously stated that CGN MINING is the only overseas uranium resource development investment and financing platform under China's largest nuclear power group, the CGN Group. With the current resurgence of the nuclear power cycle driving the natural uranium supply and demand situation to continue tightening, uranium prices are expected to continue to rise. The company is optimistic about its stable natural uranium demand guarantee within the CGN Group, and with the backing of existing high-quality resources, it continues to explore high-quality uranium mine resources globally, further opening up growth opportunities.