How Ukraine War Enriches Uranium Miners

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This article is in your queue.Nuclear and weaponizing are scary words to utter together, even in the context of energy.That fear is behind a rally in a key fuel not yet hit by a physical shortage. Prices of uranium oxide have soared to $57.50 per pound, levels last seen more than a decade ago before the Fukushima disaster turned global sentiment against nuclear energy. They are up more than a third since Russia’s invasion of Ukraine. Shares of Canadian uranium miner Cameco CCJ -0.83% have rallied 29% year to date, while Sprott Physical Uranium Trust , UUT -1.28% a fund that owns physical uranium, is up 31%.Created with Highcharts 9.0.1Share of world’s uranium-enrichment capacity in 2020, operational and plannedSource: World Nuclear AssociationCreated with Highcharts 9.0.1RusssiaGermany, Netherlands, U.K.ChinaFranceU.S.0%5101520253035404550The immediate catalyst is fear that uranium supply out of Russia might be disrupted. Thursday, a group of U.S. senators […]

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