Uranium price on the way to new heights
(PresseBox) - At more than $60 per pound, the uranium price is higher than in the past five years.
The importance of nuclear power in the energy mix is visibly spreading in the minds of many governments. In the Netherlands, for example, nuclear power played a minor role, contributing just a few percent of energy production. But now the Dutch government is planning both lifetime extensions and the construction of new nuclear power plants. Even Sweden, still neutral toward nuclear power at the beginning of 2023, is now open to a revival of this clean way of producing energy. Without nuclear energy, it will not be possible to phase out oil, coal and gas.
This (almost) worldwide rethinking is now reflected in the rise in uranium prices, because without uranium it is not possible. And some analysts expect much higher uranium prices in the future. According to the World Nuclear Association, the phase-out of fossil fuels will greatly fuel the uranium demand. Today, about 81,000 metric tons are needed annually. By 2040, it is estimated that 135,000 tons of uranium will be needed worldwide. This amount of uranium is less than the amount coming from mines today.? After the Fukushima debacle, uranium was no longer in demand, the price dropped enormously, and investments in the uranium sector were not in demand.
So, a significant undersupply of uranium is a likely scenario for the future, which in turn should drive the price up further. It should now also gradually become worthwhile to breathe new life into idle uranium mines.
One project that has a historic uranium mineral resource and is already advanced is the Cebolleta uranium project in New Mexico. American Future Fuel - https://www.commodity-tv.com/ondemand/companies/profil/american-future-fuel-corp/ - has started the drilling program there.
Uranium Energy - https://www.commodity-tv.com/ondemand/companies/profil/uranium-energy-corp/ - owns uranium projects in the USA and Canada, some of which are already operational. Uranium interests are also part of the portfolio.
Current corporate information and press releases from Uranium Energy (- https://www.resource-capital.ch/en/companies/uranium-energy-corp/ -) and American Future Fuel (- https://www.resource-capital.ch/en/companies/american-future-fuel-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: 11.10.2023 - 10:58 Uhr
Sprache: Deutsch
News-ID 692574
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