‘Chaotic to the upside’: The World Nuclear Association says uranium demand will double by 2040

Uranium demand could surge as governments in North America, Asia and Europe back an expansion of nuclear energy

US mining investors Goehring and Rozencwajg predict ‘chaotic’ move to the upside for uranium prices

Yellowcake spot price has steadily increased across 2023, hitting year high of US$62.13/lb yesterday

The World Nuclear Association has laid out its case for a massive expansion of uranium mine developments, projecting a near doubling in demand by 2040, while a pair of US mining investors have predicted prices for yellowcake could rise “three to four times”.In a report last week, the first Nuclear Fuel Report issued by the WNA since before the Russian invasion of Ukraine in 2022, the WNA said reactor requirements for uranium would lift from 65,650t in 2023 to 83,840t in 2030 and 130,000t in 2040 just on a scenario based on government and utility targets.A lower demand scenario would see requirements […]

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