Sulfur Shortage Could Slam 'Various Sectors — Mining, Green Economy, Food,' Expert Warns
Portfolio Pulse from Matt Whittaker
Kazatomprom (OTC:NATKY) has reduced its uranium production forecast due to a sulfuric acid shortage, caused by competition from the local fertilizer industry in Kazakhstan. This situation highlights a broader concern about potential global sulfur shortages impacting various sectors, including mining, the green economy, and food production. Sulfuric acid, essential for numerous industrial processes, could face a shortfall of up to 320 million metric tons by 2040, affecting the production of fertilizers, lithium batteries, and the extraction of vital minerals. Companies like Barrick Gold Corp. (NYSE:GOLD), Newmont Corp. (NYSE:NEM), Eagle Materials (NYSE:EXP), Arcosa Inc. (NYSE:ACA), and Energy Fuels Inc. (NYSEAMERICAN: UUUU) are mentioned in relation to their involvement in mining or the production of sulfur-bearing minerals.

February 20, 2024 | 10:48 pm
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NEGATIVE IMPACT
Kazatomprom has lowered its uranium production forecast due to a sulfuric acid shortage.
The direct impact of the sulfuric acid shortage on Kazatomprom's production forecast could negatively affect its short-term stock performance due to concerns over reduced output.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 90
NEUTRAL IMPACT
Arcosa Inc. produces gypsum and anhydrite, similar to Eagle Materials, and could be impacted by sulfur shortages.
Arcosa Inc.'s role as a producer of gypsum and anhydrite places it in a similar position to Eagle Materials, with potential indirect impacts from the sulfur shortage.
CONFIDENCE 60
IMPORTANCE 40
RELEVANCE 40
NEUTRAL IMPACT
Eagle Materials produces gypsum and anhydrite, used in construction but also potential sources of sulfur.
While Eagle Materials is not directly impacted by the sulfuric acid shortage, its production of gypsum and anhydrite could become more relevant if alternative sulfur sources are sought.
CONFIDENCE 60
IMPORTANCE 40
RELEVANCE 40
NEUTRAL IMPACT
Newmont Corp. is involved in a joint venture with Barrick Gold Corp., which could be impacted by sulfur shortages.
Newmont Corp.'s association with Barrick Gold Corp. through their joint venture means it could be indirectly affected by sulfur shortages, though the exact impact remains uncertain.
CONFIDENCE 60
IMPORTANCE 50
RELEVANCE 50
POSITIVE IMPACT
Barrick Gold Corp. is involved in mining pyrite, a source of sulfur, at its Golden Sunlight mine.
Barrick Gold Corp.'s involvement in mining pyrite could position it to benefit from increased demand for sulfur sources amid global shortages.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Energy Fuels Inc. states it has no issues procuring sulfuric acid at acceptable prices, despite the shortage.
Energy Fuels Inc.'s ability to procure sulfuric acid without issues suggests a neutral to slightly positive short-term impact on its stock, as it demonstrates operational resilience.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 60