Uranium - long neglected
The uranium spot market is small, dramatic changes are possible in a comparatively short period of time
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That the mood on the uranium market has changed is generally assumed. Today, some 440 reactors worldwide supply energy, accounting for about ten percent of global electricity demand. Nuclear power is the largest source of low-carbon electricity in advanced economies. It prevents the emission of about 2.1 billion tons of carbon dioxide annually, according to the International Energy Association (IEA). The main users of nuclear power are the world's largest economies, including China and the United States. Even the United Arab Emirates has a nuclear power plant.
Governments are now talking openly about the need to incorporate nuclear power into climate plans, and they are also taking action. The U.S., for example, announced earlier this year that it is considering extending power plant licenses. As decarbonization efforts increase, the role of nuclear power will also grow. On the supply side, for example, is Cameco. Operations at its Cigar Lake uranium mine, the largest high-grade uranium mine on Earth, were suspended for a second time in late 2020, then restarted in April 2021. No restart date has been set for the large McArthur River uranium mine either. And Kazatomprom had cut production by 20 percent.
Times should look good for uranium as a commodity. So is Tim Gitzel, president and CEO of Cameco enthusiastic about supply and demand for uranium. "The megatrend of increasing electrification as we phase out carbon-intensive energy sources continues worldwide," Gitzel said. This is strengthening uranium demand tremendously, he added.
Uranium companies such as Uranium Energy and International Consolidated Energy are therefore in the focus of investors.
Uranium Energy - https://www.youtube.com/watch?v=Em_jn2TcX6k - owns the largest ISR project currently under development in the USA. In addition, there are various other projects, some of which have already been approved.
International Consolidated Uranium - https://www.youtube.com/watch?v=pfJv6yAcNMw - has option agreements to acquire five uranium projects in Australia, Canada and Argentina.
Current corporate information and press releases from Uranium Energy (https://www.resource-capital.ch/en/companies/uranium-energy-corp/).
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