Five Top Uranium Stocks to Watch in July

Australia’s uranium stocks were in the red last week after the chief of the country’s energy grid, Daniel Westerman, said nuclear would not be part of its future energy mix.

“We need to decarbonise our own portfolio. Our coal will close by no later than 2035, so we haven’t got time to wait for nuclear to be there,” said Westerman, speaking at the Australian Clean Energy Summit 2024 on 16 July.

However, opposition leader Peter Dutton believes that nuclear energy is key to powering the country’s future. He has pledged that the Coalition will build seven nuclear power plants as early as 2035 if elected next year, arguing that the current government’s preference for renewables isn’t feasible.

Dutton’s plan has attracted criticism. The Commonwealth Scientific and Industrial Research Organisation (CSIRO) has calculated that building a 1,000MW nuclear plant would require investment of $8.6bn. Even then, “this capital cost can only be achieved […]

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