Climate and energy security goals need uranium
Many nations have recognized that nuclear power is part of the energy mix.
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The fact that uranium is needed and in demand can easily be seen from the price trend. A pound of uranium now costs almost 81 US dollars. Europe, the USA and Asia are relying on clean nuclear power. A secure energy supply is by no means a given everywhere in the world. And energy demand is increasing worldwide. Although it slowed in 2022 (+2.1%), it remained above the average growth rate for the years 2010 to 2019. 2022 in Europe was characterized by fears of recession, rising energy prices and a mild climate. This was compounded by cost-cutting measures by private households and industry. It should be noted that the growth in energy consumption decreased, while it continued to grow overall. And if economic growth increases, so does the demand for energy. This is what happened last year in India, Indonesia, Saudi Arabia and Canada, for example.
So it is the ambitious climate and energy security targets that are making uranium popular again. Japan is ramping up nuclear power plants again, Turkey is building nuclear power plants and almost all of Germany's neighbors are starting to build new nuclear power plants. According to the International Energy Agency, the share of renewable energies was just under 29% in 2021. Around ten percent of energy generation came from nuclear power. The demand for uranium is now increasing, but supply is likely to lag far behind. Since uranium was not popular for a long time and the price was low, there was hardly any investment in the uranium market. However, there are also uranium companies that are already well positioned, such as Uranium Energy and Latitude Uranium.
Uranium Energy - https://www.commodity-tv.com/ondemand/companies/profil/uranium-energy-corp/ - is advancing ISR uranium projects in the U.S. and Canada and owns uranium interests and resource-stage uranium projects.
Latitude Uranium - https://www.commodity-tv.com/ondemand/companies/profil/latitude-uranium-inc/ - is developing two promising uranium projects in Canada.
Current company information and press releases from Uranium Energy (https://www.resource-capital.ch/en/companies/uranium-energy-corp/ ) and Latitude Uranium (https://www.resource-capital.ch/en/companies/latitude-uranium-inc/ ).
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