The rise in the uranium price is likely to continue
(PresseBox) - The price has roughly doubled in recent years and a pound of uranium currently costs just under 82 US dollars.
Demand is rising and the supply of uranium is limited. Today, we are a long way from price lows below USD 20 per pound. More nuclear power plants, especially in the emerging markets, will lead to an increase in demand for uranium. The largest uranium enricher in the world is Russia. In the USA, there is only one US company that can process yellowcake, ConverDyn, which was restarted this summer after years of downtime. It is already fully booked until 2028. ConverDyn consists of the partners General Atomics and Honeywell. They provide uranium processing and related services for energy suppliers that operate nuclear power plants in North America, Asia and Europe.
Looking at nuclear power plants under construction and planned, it quickly becomes clear that the demand for uranium will grow rapidly. The supply of uranium will become even tighter if the USA introduces sanctions against Russian uranium. Draft legislation on this already exists. Uranium companies are benefiting from rising uranium prices. Large companies such as Kazatomprom and Cameco have already seen their share prices rise. One of the sources from which Cameco obtains its uranium is Kazakhstan. But since the Ukraine-Russia war, Cameco has been avoiding uranium that comes from Kazakhstan by train through Russia and is then shipped. Companies such as Uranium Energy or IsoEnergy have also risen in price in recent months and could enrich a portfolio.
Uranium Energy - https://www.commodity-tv.com/ondemand/companies/profil/uranium-energy-corp/ - is looking forward to record sales in 2023, is debt-free and has uranium projects in Canada and the USA.
IsoEnergy - https://www.commodity-tv.com/ondemand/companies/profil/isoenergy-ltd/ - owns very high-quality uranium projects in the Athabasca Basin in Saskatchewan, including the outstanding Hurricane deposit. IsoEnergy has just made Consolidated Uranium its wholly owned subsidiary.
Current company information and press releases from Uranium Energy (- https://www.resource-capital.ch/en/companies/uranium-energy-corp/ -) and IsoEnergy (- https://www.resource-capital.ch/en/companies/iso-energy-ltd/ -).
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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Unternehmensinformation / Kurzprofil:
Datum: 11.12.2023 - 01:05 Uhr
Sprache: Deutsch
News-ID 696386
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