(Bloomberg) — Across the US and allied countries, owners of left-for-dead uranium mines are restarting operations to capitalize on rising demand for the nuclear fuel.
At least five US producers are reviving mines in states including Wyoming, Texas, Arizona and Utah, where production flourished until governments soured on the radioactive element following the 2011 Fukushima nuclear disaster in Japan.
Most of those American mines were idled in the aftermath of Fukushima, when uranium prices crashed and countries like Germany and Japan initiated plans to phase out nuclear reactors.
Now, With governments turning to nuclear power to meet emissions targets and top uranium producers struggling to satisfy demand, prices of the silvery-white metal are surging. And that’s giving those once-unprofitable uranium operations a chance to fill a supply gap.
For the rest of this article: https://www.bnnbloomberg.ca/uranium-firms-revive-forgotten-mines-as-price-of-nuclear-fuel-soars-1.2042040#:~:text=(Bloomberg)%20%2D%2D%20Across%20the%20US,demand%20for%20the%20nuclear%20fuel.