Uranium investors have recently turned their attention to Niger, a landlocked West African nation that supplies the nuclear fuel to the European Union. There, soldiers staged a coup in late July, saying the country’s democratically elected government isn’t doing enough about security.
It was enough to send uranium prices slightly higher, but there hasn’t been a large increase because uranium mining companies in the country have said they’re largely operating normally. Plus, Niger only accounts for about 5% of the world’s uranium output, and global uranium inventories appear to be well stocked.
"It’s still being determined how the coup will affect output, but similar events in other resource-rich countries have had minimal effects on mining in recent years," says Roberta Caselli, commodities research associate at Global X ETFs. "However, the instability in the region could threaten Europe’s capacity to import energy from Niger." Move left Move right Although the instability in […]
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