HK Stock Movement | CGN MINING (01164) Rises Over 6% Again as Major Uranium Suppliers Cut 2026 Output Guidance, Tight Supply Supports Uranium Prices

CGN MINING (01164) surged over 6% again, gaining 6.47% to HK$3.28 by the time of writing, with a turnover of HK$162 million.

A Huajin Securities research report noted recent breakthroughs in the nuclear power industry chain: the Shandong Zhaoyuan and Zhejiang San'ao nuclear power projects have commenced construction, marking the full launch of new projects. China Uranium, a leading natural uranium producer, completed its IPO, strengthening upstream resource security. The international fusion cooperation project BEST was initiated, accelerating cutting-edge technology deployment. China has approved over 10 nuclear power units annually for four consecutive years, with sustained high investment growth, propelling the entire industry chain—from equipment and construction to resources and technological innovation—into a new development phase.

A Huaxi Securities report highlighted that Cameco stated in its 6-K filing that the McArthur River/Key Lake project's uranium concentrate output is now projected at 14–15 million pounds, down from the previous 18 million pounds forecast. Additionally, Kazatomprom, the world's largest uranium producer, announced plans to reduce 2026 output by around 10%, citing no need to resume full-capacity production. With two major uranium suppliers lowering 2026 production guidance, expectations of tightening supply continue to underpin uranium prices.