Aura Up 8% in London Overnight, page-80

The Perfect Storm of Geopolitics, Climate Change, and Energy Transition for Uranium

One energy transition metal in particular – Uranium, has been dominating headlines since December following a landmark agreement at the COP28 Climate Change Conference to reshape the global energy landscape.

Last month, almost 200 countries vowed at COP28 to triple their use of Nuclear Energy in a coordinated effort to achieve global net-zero greenhouse gas emissions by 2030.

As demand surges and the world needs more Uranium and lots of it – there’s one big problem!

Large-scale mining projects to extract key energy transition metals like Uranium can take up to 15-20 years and the last decade has seen a lack of investment in exploration and production.

The COP28 agreement sent Uranium skyrocketing with prices reaching $106 per pound this month – to hit their highest level in 17 years. That’s more than a 100% increase from their 2023 low. It is also a whopping gain of over 350% from their 2020 low.