Uranium rally must come
Around 15 percent of the world is supplied with clean electricity from nuclear power plants. 447 reactors on Earth provide the power. Currently, 55 are being built and around 500 are planned. Uranium prices in 2016 had reached a 12-year low. Today, a pound of uranium costs about $26. At the end of October, the uranium price was still at 24 US dollars, an increase of eight percent.
The International Energy Agency estimates that nuclear energy will rise from around 400 gigawatts today to 1,250 gigawatts by 2050. Most nuclear power is available in the USA. About 20 percent of the total electricity there comes from 97 nuclear power plants. China has 47 reactors in operation. The country's goal is to triple its nuclear power capacity by 2030. Because there is a massive lack of clean air.
For 2019, an estimated 192 million pounds of uranium will be needed. However, there will be significantly less mining this year. And the two largest uranium producers are cutting their production. A uranium rally seems inevitable. The difference between uranium demand and uranium produced in the country is particularly large in the USA. Only about two percent of the necessary uranium comes from the USA, the rest has to be imported. This strong dependence on other countries, such as Russia, is a thorn in the side of the Americans.
Good thing there are uranium companies in the country, like Uranium Energy - https://www.commodity-tv.com/play/uranium-energy-is-uniquely-positioned-for-uranium-price-growth/. Uranium Energy's portfolio includes four injection solution mining (ISR) projects in the USA and a processing plant that has already been approved.
In Canada, in Saskatchewan lies the Athabasca basin famous for uranium. IsoEnergy - https://www.commodity-tv.com/play/isoenergy-drilling-new-target-areas-in-winter-2020/ - is working on various uranium projects there in the eastern part of the basin. Drilling is in full swing and very good results are available.
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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