Rising demand and scarcity are causing uranium prices to break out

Uranium production has declined extremely. At the same time, a growing number of nuclear power plants need the raw material.

Mine closures (McArthur River mine), production cuts (Kazatomprom) and temporary closings due to the COVID-19 crisis are to blame. Nearly $ 34 is currently being shelled out for a pound of uranium. About two months ago, it was only $ 24.

The list of uranium companies is comparatively short. Most uranium comes from Kazakhstan, followed by Canada and Australia. The largest uranium producer is the Cigar Lake mine in Saskatchewan. It has the highest uranium content and has been in production since May 2015.

Saskatchewan’s uranium projects are also located IsoEnergy – -. In the Atabasca basin, which is famous for uranium deposits, IsoEnergy has around 109,000 hectares. The company has strategically located and potential assets in the eastern Athabasca Basin, including Larocque East, Geiger, Thorburn Lake and Radio, and Evergreen.

Another major uranium mine is the Olympic Dam mine in Australia, which has been producing uranium, as well as gold, silver and copper, since 1988. The Husab uranium mine in Namibia is also one of the largest. Then there is the Inkai uranium mine in Kazakhstan, operated by Cameco and Kazatomprom.

Also known is the Rossing uranium mine, also located in Namibia, which has been in operation since 1976. Other large mines in Kazakhstan are the Budenovskoye 2 and Tortkuduk uranium properties.

Another reason for the rise in uranium prices is the US declared goal to produce more uranium in its own country. This is particularly likely for Uranium Energy – – be an advantage. Because the company has advanced, partially already approved projects and a processing plant in America (Texas, Arizona, Wyoming, New Mexico, Paraguay).

Current company information and press releases from IsoEnergy (- -) and Uranium Energy (- -).

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