Uranium stocks plunge on prospect of US-Ukraine minerals deal
Make us a preferred source
Make us a preferred source on Google
The news: Uranium stocks gave up Monday’s gains after former US President Donald Trump appeared to leave the door open to a minerals deal with Ukraine, despite his feud with President Volodymyr Zelensky last week.
The numbers: Australia's largest uranium stocks Boss Energy (-9.1%), Paladin Energy (-6.6%) and Deep Yellow (-6.5%) were three of the worst performing ASX 200 stocks by 11:15am AEDT.
The context: On Monday, Boss (6.5%), Paladin (3.2%) and Deep Yellow (3.4%) all finished higher after the critical minerals deal between Ukraine and the US appeared in doubt. Zelensky had flown to the US to finalise the deal, but left without signing it after his public spat with Trump.
However, Trump has since suggested that the deal remains on the table, telling reporters "it's a great deal for us".
Last week, Ukraine said that it had reached a framework agreement with the US on jointly developing the country's natural resources including oil and gas, rare earths, and critical minerals — including uranium.
The source: Bloomberg
