Nuclear power could see its biggest expansion in decades, leading to increased demand for uranium

Interest in nuclear power is climbing and prices for uranium have reached their highest level in more than a year, providing an opportunity for investors looking to capitalize on bets that global worries surrounding climate change will boost demand for the energy source.

“The nuclear power market is currently set up for significant growth given global interest in clean, stable energy supplies,” said Jonathan Hinze, president at nuclear-fuel consultancy UxC.

“In my 20-plus years in this industry, this is perhaps the best set up for nuclear power expansion that I have ever seen,” Hinze told MarketWatch. “A confluence of drivers, including the need to reduce carbon emissions, as well as increasing focus on energy security are propelling nuclear power forward in most major markets across the globe.”

That’s “naturally translating” to rising demand for uranium, with 1% to 2% annual growth at a minimum anticipated over the next few decades, he said.The […]

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