Cameco Corp (NYSE: CCJ), the largest publicly traded uranium company, might be up for a solid foreseeable future. Uranium price has shot up to its highest since 2015, thanks to Sprott Inc (TSE:SII) and its Sprott Physical Uranium Trust (SPUT). What lies ahead for the uranium giant, as both spot price and decarbonization have lifted the prospects for the nuclear industry and uranium demand?
A Solid Stage
According to the latest Nuclear Fuel report by the World Nuclear Association, the grand decarbonization goals of the world’s main economies need a great deal of low-carbon nuclear energy.
This, in turn, will increase a demand for uranium that could not be fulfilled, should new mining projects not emerge quickly. Meanwhile, Mining.com reports that Sprott has accumulated more than 24 million pounds of uranium, sometimes buying more than 500,000 pounds in a single day.On top of that, the biggest uranium mining firm, NAC […]
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