The uranium price has crossed the 50 US dollar hurdle
Proponents of the energy transition, who had hoped for a rapid phase-out of fossil fuels and nuclear power, have had to rethink their position since the Ukraine war.
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In view of the energy crisis, Germany will continue to rely on nuclear power for a while. Belgium, for example, is considering a lifetime extension for certain nuclear power plants. No one wants a blackout, not even a brownout (targeted reduction in the power grid, i.e., localized power outage). Other countries continue to expand their reactor capacities. This requires large quantities of uranium. After a steady rise in prices, a pound of uranium now costs a good $50. The U.S. is providing financial support for nuclear power plants, and the U.K. is reviewing an extension of two power plants. Japan wants to accelerate the restart of reactors. California has already decided on the life of its last nuclear plant. Two of the most negative jurisdictions on earth in terms of nuclear power were Germany and California. All this development affects the price of uranium, in a positive sense.
The electrification of the global economy and the move away from fossil fuels needs nuclear energy. Because it generates electricity without producing CO2 emissions. After all, the European Union has also classified nuclear energy as "green". Thus, the change of heart of various countries is leading to an increasing demand for uranium, in addition to those countries that already rely on nuclear power anyway. For a long time, the uranium mining industry was plagued by the Fukushima disaster, but now it is back in the interest of investors as well. These include Consolidated Uranium and Uranium Energy, for example.
Consolidated Uranium - https://www.youtube.com/watch?v=kbEklwODa9o - owns uranium projects in Australia, Canada, Argentina and the USA. In addition, there are former producing uranium and vanadium mines in Colorado and Utah.
Uranium Energy - https://www.youtube.com/watch?v=DGaCZgGWPSs - has environmentally friendly and low-cost ISR uranium projects, some of them operational. These are located in Canada and the USA. Uranium Energy has just acquired the Roughrider uranium project located in Saskatchewan.
Current corporate information and press releases from Uranium Energy (https://www.resource-capital.ch/en/companies/uranium-energy-corp/ ) and Consolidated Uranium (https://www.resource-capital.ch/en/companies/consolidated-uranium-inc/ ).
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