Australia is the third biggest uranium producer and holds around one third of the world’s uranium resources. There are several ASX-listed mining stocks with uranium exposure. Some have been actively mining for many years, such as Energy Resources of Australia ( ASX: ERA ), while others are exploring new uranium deposits alongside other resources such as gold or silver.
This commodity is best known for its use in nuclear energy production but has a destructive history. In recent years, uranium prices have fallen amid oversupply issues as Kazakstan has ramped up production and the Fukushima disaster led to plunging sentiment toward nuclear energy use.
Investors should explore how this material is mined and used before they invest.
Uranium is a radioactive heavy metal used to fuel nuclear reactors and craft nuclear weapons. It’s mined in a number of countries, but a majority of the world’s uranium supply comes from Kazakhstan, Canada and […]
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