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Rising demand and shortages cause uranium price to erupt

Uranium production has fallen dramatically. At the same time, a growing number of nuclear power plants need the raw material.

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This is due to mine closures (McArthur River mine), production cuts (Kazatomprom) and temporary closures due to the COVID 19 crisis. Almost 34 US dollars currently have to be paid for a pound of uranium. About two months ago it was only 24 US dollars.

The list of uranium companies is relatively short. Most uranium comes from Kazakhstan, followed by Canada and Australia. The largest uranium producer is the Cigar Lake mine in Saskatchewan. It has the highest uranium content and has been producing since May 2015.

Saskatchewan is also home to the IsoEnergy uranium projects. In the Athabasca Basin, which is famous for its uranium deposits, IsoEnergy can call about 109,000 hectares its own: https://www.commodity-tv.com/play/newsflash-with-goldmining-rnc-minerals-isoenergy-and-gold-terra-resources/. The company holds strategically located and potential assets in the eastern Athabasca Basin, including Larocque East, Geiger, Thorburn Lake and Radio and Evergreen.

Another very large uranium mine is the Olympic Dam Mine in Australia, which has been producing uranium as well as gold, silver and copper since 1988. The Husab uranium mine in Namibia is also one of the largest. Then there is the Inkai uranium mine in Kazakhstan, operated by Cameco and Kazatomprom.

The Rossing uranium mine, which is also located in Namibia and has been in operation since 1976, is also well known. Other major mines in Kazakhstan are the Budenovskoye 2 and Tortkuduk uranium properties.

Another reason for the increase in the price of uranium is the USA's declared goal of producing more uranium at home. This should be particularly beneficial for Uranium Energy: https://www.commodity-tv.com/play/uranium-energy-best-position-for-restart-of-us-uranium-production/. This is because the company has advanced projects, some of which have already been approved, as well as a processing plant in America (Texas, Arizona, Wyoming, New Mexico, Paraguay).

Current company information and press releases from IsoEnergy ( https://www.resource-capital.ch/en/companies/iso-energy-ltd/) and Uranium Energy ( https://www.resource-capital.ch/en/companies/uranium-energy-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.

Disclaimer: The information provided does not represent any form of recommendation or advice. Express reference is made to the risks in securities trading. No liability can be accepted for any damage arising from the use of this blog. I would like to point out that shares and especially warrant investments are always associated with risk. The total loss of the invested capital cannot be excluded. All information and sources are carefully researched. However, no guarantee is given for the correctness of all contents. Despite the greatest care, I expressly reserve the right to make errors, especially with regard to figures and prices. The information contained herein is taken from sources believed to be reliable, but in no way claims to be accurate or complete. Due to court decisions, the contents of linked external sites are also co-responsible (e.g. Landgericht Hamburg, in the decision of 12.05.1998 - 312 O 85/98), as long as there is no explicit dissociation from them. Despite careful control of the content, I do not assume liability for the content of linked external pages. The respective operators are exclusively responsible for their content. The disclaimer of Swiss Resource Capital AG also 
applies: https://www.resource-capital.ch/en/disclaimer/ 

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Always up to date with the newsletter from SRC

Swiss Resource Capital AG will use the information you provide in this form to keep in touch with you and to provide you with updates and marketing information. To receive our news, you still have to give us permission to send you E-Mails below.

You can change your mind at any time by clicking on the Unsubscribe link, which you can find in the footer of every email you receive from us, or by contacting us at [email protected] We will treat your information with care and respect. For more information about our privacy practices, visit our website. By clicking below, you agree that we may process your information in accordance with these Terms.

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