Uranium Expected To Take On Bigger Role As Energy Transition Metal In 2022

PALM BEACH, Fla., March 9, 2022 /PRNewswire/ — FinancialNewsMedia.com News Commentary – Upward pressure on energy prices resulting from the Russia-Ukraine war is set to further boost interest in nuclear energy and uranium mining, already rising as nations seek to decarbonize energy supplies, prospectors and analysts told S&P Global Commodity Insights. Uranium prices – stable between $20-$30/lb for several years until late 2021– have responded vigorously to the current decarbonization drive and to the war. On March 3 the spot uranium price shot to $50.75/lb, a near 10-year high, having risen by $7.50/lb, or more than 17%, in the previous seven days. S&P Global Commodity Insights’ assessment of the current month spot price of U3O8 — a uranium oxide compound — to Canada at $50.75/lb at 1 pm ET March 3, is the highest reported since June 8, 2012, bolstered by strong purchasing by the Sprott Physical Uranium Trust, […]

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