The big question right now is what will Putin do next? Last week U.S President Biden banned Russian oil and gas imports . Will Russia respond by banning uranium exports to the USA? That would certainly cause a huge drama given that Russia largely controls the uranium market ( 41% of supply from Kazakhstan, 6% from Russia) and the USA’s dependence on uranium to power 19% of the electricity grid and a significant part of its navy which is nuclear powered.
In anticipation of a possible Russian uranium export ban or supply shock, the uranium price has been moving higher since the war began. At the current uranium price of US$60/lb the outlook for uranium producers is looking dramatically improved.
Uranium prices have spiked higher since the Russia-Ukraine war began on February 24, 2022 Ur-Energy Inc. (NYSE American: URG | TSX: URE) is among the top two U.S uranium producers […]
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