Uranium deals heat up as nuclear fever takes hold

Uranium Quarterly Although uranium spent much of the third quarter on a downward trend, Aurora Energy Metals (ASX:1AE) non-executive Chairman Peter Lester says the outlook for the market has strengthened considerably.

The uranium price slipped to its lowest point for 2024 of US$78 ($113) a pound in late August, down from over US$85 a pound at the end of June.

However, Kazakhstan-headquartered Kazatomprom, the world’s largest uranium producer, in August cut its 2025 production forecast by around 17%, which is expected to have longer term ramifications.

Lester says this is due to supply chain disruptions and a shortage of sulfuric acid, which is essential for uranium extraction. “This reduction is likely to intensify the anticipated supply deficit, driving uranium prices higher,” he tells Mining.com.au . “Moreover, global demand for nuclear energy is on the rise, particularly in the USA, which has committed to tripling its nuclear power capacity by 2050. “This […]

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