Power Up: Uranium is picking up speed

Uranium is picking up the pace as optimism rises. Pic: Getty Images share

Uranium optimism is growing with governments around the world including nuclear energy in their plans to slash carbon emissions and the US saying outright that achieving its climate goals would not be possible without nuclear plants.

Nuclear energy currently accounts for 20 per cent of US electrical generation so it is no surprise that it is currently evaluating the potential to extend the operating life of its existing plants to 100 years.

China has flagged that it will have 70 gigawatts of installed nuclear power capacity by 2025, up from the current 55GW, with further growth likely.Uranium spot prices have edged upwards in regard to the increased optimism.With the expected demand growth, GlobalData has forecast that uranium production could increase by 3.1 per cent to reach 51,200t this year as significant mines come back online.The market intelligence firm […]

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