Uranium price on the rise
The price of uranium has risen by about 37 percent this year. Today, for example, a pound of uranium costs a good US$33, whereas in January it cost just under US$25. The price has thus freed itself from its stagnation phase since the Fukushima disaster. The price increase in 2020 was caused by production cuts by major producers and shutdowns by Covid-19.
Another reason is certainly the USA's efforts to push the uranium market forward. A strategic uranium stockpile is to be built up. To this end, the USA is releasing funds amounting to around 150 million US dollars annually over the next ten years. Because the USA has also recognized how important this raw material will be in the future.
An extremely positive aspect for Uranium Energy, for example: https://www.commodity-tv.com/play/uranium-energy-best-position-for-restart-of-us-uranium-production/. The company owns uranium projects in Texas, Wyoming, New Mexico, Arizona and Paraguay. These are well advanced, and some have already been approved.
Around 440 reactors are in operation, about the same number as before Fukushima. 50 nuclear reactors are currently under construction. Especially modern smaller reactors are being discussed. The nuclear sector is widespread in around 30 countries and progress is estimated at 500 to 740 billion US dollars over the next ten years. This, according to uranium expert Nick Hodge, will significantly advance the uranium industry.
The upside potential in the uranium price will also benefit uranium companies such as IsoEnergy: https://www.commodity-tv.com/play/newsflash-with-goldmining-rnc-minerals-isoenergy-and-gold-terra-resources/. With uranium projects in the famous Athabasca Basin in Saskatchewan, the company is located in an excellent uranium area.
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/).
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