Uranium price is resilient
(PresseBox) - .
Compared with other commodities, the uranium price has held up well in the current year.
Some commodities have gone down in price this year, not so the uranium price. The strength of the uranium price can also be seen in the U308 spot price, as it has gone up almost 141 percent in the five years to the end of March 2023. The broad commodity sector only brings it to about 20.60 percent over the same period. ?Today, uranium fundamentals are likely to be better than they have been in a long time and continue to support prices. In the long term, uranium mining stocks can enjoy some remarkable results. March brought the U.S. banking crisis amid the fight against inflation. The resulting liquidity crisis then also affected stocks with small market capitalizations, for example. The "majors" were able to perform better. Nevertheless, junior uranium miners made good progress in March in terms of restarting production, exploration programs or contracts with utilities. The new attractiveness of uranium is incentivizing production, and as a result, uranium projects were restarted by several uranium mining companies.
The world s largest uranium producer, Kazatomprom, announced a reduced production forecast for 2023. Yet many governments around the world, such as the U.S., France, and the United Kingdom, rely on nuclear energy as a major contributor to decarbonization and energy security. Renewable energies sometimes suffer from interruptions and have to be compensated with coal or natural gas, not so with nuclear energy. So investors might want to look at uranium companies to diversify their portfolio.
There would be Consolidated Uranium - https://www.commodity-tv.com/ondemand/companies/profil/consolidated-uranium-inc/ . The company is active in Australia, Argentina, Canada and the United States. It also has uranium and vanadium mines in Utah and Colorado that will be ready to start up in the near future.
In addition to critical metals and rare earths projects, US Critical Metals - https://www.commodity-tv.com/ondemand/companies/profil/us-critical-metals-corp/ - also owns a promising uranium project in Idaho.
Latest corporate information and press releases from Consolidated Energy (- https://www.resource-capital.ch/en/companies/consolidated-uranium-inc/ -) and US Critical Metals (- https://www.resource-capital.ch/en/companies/us-critical-metals-corp/ -).
In accordance with ?34 WpHG I would like to point out that partners, authors and employees may hold shares in the respective companies addressed and thus a possible conflict of interest exists. No guarantee for the translation into English. Only the German version of this news is valid.
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Datum: 20.04.2023 - 09:04 Uhr
Sprache: Deutsch
News-ID 681894
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