June 05, 2023

Christopher Ecclestone on the “leaky door” for Russian Uranium

In a recent InvestorIntel interview, Tracy Weslosky interviews Hallgarten & Company’s Principal and Mining Strategist Christopher Ecclestone about the impact of the Ukrainian invasion on the resource sector. In a follow-up to a previous interview, Christopher starts with: “Everyone thought it would be over shortly, and in fact, it’s dragged on — and so that means that the implications have very much changed now.”

With commentary on sanctions, Russia being paid in rubles for oil and gas, Christopher takes on the impact to the global nickel, platinum, and palladium markets. Further discussions on Russia and Kazakhstan being our dominant suppliers of uranium, he provides a compelling argument on how other companies and countries may be a ‘leaky door’ for Russians sidestepping the intended impact of economic sanctions.

The full interview, which may also be viewed on the InvestorIntel YouTube channel (click here to subscribe), may be accessed if you click here.

About Hallgarten & Company

Hallgarten & Company was founded in 2003 by the former partners of a well-known economic think-tank. Their output encompasses top-down and bottom-up research from a Classical Economic (Austrian School) perspective. Over the years, the team has successfully picked trends using macroeconomic underpinnings to guide investors through the treacherous waters of the markets. It was only natural, in light of the focus of Classical Economics upon the “real value” of monetary assets that the firm’s strengths should ultimately have become evident in resources sectors and projections of commodity trends.

Hallgarten & Company has advised and managed portfolios of offshore and onshore hedge funds.

Hallgarten also provides consultancy services on Latin American economic, politics and corporate matters including the production of bespoke research.

Hallgarten research is now available on Bloomberg and FactSet.

To learn more about Hallgarten & Company, click here


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2 responses

  1. Jack Lifton Avatar
    Jack Lifton

    In your very perceptive analysis, in reply to a question about gold being used to back the ruble, you stated that it, perhaps, or another commodity, such as silver, could be used to back the ruble. Gold prices have not moved in the light of Russia’s announcement that its central bank would price rubles in gold, beginning with an exchange ratio of 1 gram of gold equals 5000 rubles, followed by yesterday’s update that from now on the Russian Central Bank would negotiate the rate daily on the price in rubles in which it would purchase gold. If the Chinese were to price their RMB in terms of gold also how might this affect the dollar, Euro, and Yen as reserve currencies?

  2. Raj Shah Avatar
    Raj Shah

    This crisis has exposed the vulnerability of the critical materials supply chain. I hope now that the US realizes this and does something to encourage setting up of domestic supply chain.

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