Uranium prices are up about 40% since Russia invaded Ukraine. While the war has no immediate impact on global supplies of uranium, there are “signs a few countries in Europe may shift their stance on nuclear power and maintain existing reactors longer, or possibly build new ones sooner as they look to diversify away from Russian [natural] gas,” said Jonathan Hinze, president at UxC, as quoted by Barron’s. Moreover, the world’s dependence on Russian uranium, and the uranium of those countries in Russia’s orbit of influence such as Kazakhstan and Uzbekistan – representing about 50% of production – is potentially at risk through the prospect of retaliatory sanctions. Finally, President Biden’s Administration supports nuclear energy to help the country achieve net-zero carbon goals. Even Japan just said it wants to get nuclear reactors back online to meet green targets. All could continue to be beneficial for companies such as […]
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