Even though Australia is one of the biggest producers of uranium in the world , the nuclear fuel had suffered from low prices for much of the 2010s.
The 2011 Fukushima disaster had much to do with that, with many countries subsequently reducing their nuclear power generation.
The lack of demand meant some uranium mines even halted production.
However, that all changed again last year. ‘The global energy mix is changing’ When the Russian military stamped into Ukraine in February 2022, the world was immediately confronted with an energy crisis.Russia was a significant producer of both oil and gas, but much of the Western world stopped buying from it as an economic retaliation against the invasion.Aside from this one-off shock, the rapidly expanding middle-class population in countries like India and China means the global appetite for energy is ever-growing.All of a sudden, those old nuclear power plants look much more tempting to […]
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