Uranium price makes fresh decade high as forecasts grow (even) rosier – by Frik Els (Mining.com – September 12, 2023)


Uranium is officially in a bull market with a 20% rise in price so far in 2023, vastly outperforming other metals markets. Uranium scaled $60 per pound on Friday for the first time since 2011. The breakthrough for the nuclear fuel after a decade in the doldrums coincided with the last day of the World Nuclear Symposium in London.

The World Nuclear Association’s biennial report provides long and medium term projections and insights into the more obscure corners of the global supply chain.

The report has little to worry uranium bulls, the ranks of which has grown large in the past couple of years, as the role nuclear could play in the green energy transition becomes obvious even to long term critics of the renewable source.

The nuclear option

The WNA report predicts world reactor requirements for uranium to surge to almost 130,000 tonnes (~285 million pounds) in 2040. That’s up from an estimate of 65,650 tonnes in 2023.

For the rest of this article: https://www.mining.com/uranium-price-makes-fresh-decade-high-as-forecasts-grow-even-rosier/