Nuclear Power Related Media Thread, page-5139

https://*********.com.au/global-uranium-demand-surge-continue-nations-nuclear-power/

Global uranium demand surge set to continue amidst nations embracing nuclear power

https://*********au.mystagingwebsite.com/wp-content/uploads/2023/07/Colin-Hay-96x96.jpg
By Colin Hay - July 11, 2024
Leading research firms are tipping that the current surge in uranium prices will continue, with global demand for the energy metal growing.
According to Trading Economics, the latest uplift in prices comes as markets assess bullish demand bets against uncertain supply in light of the US and 20 other countries announcing plans to triple their nuclear power capacity by 2050.
China, in particular, is leading the nuclear building race, currently constructing 22 of the 58 global reactors, while Japan has also restarted projects to build reactors.

Russian ban impact

Trading Economics states that investors are still assessing the impact the US ban on Russian nuclear fuel imports may have on global supply chains.
Russia is responsible for a quarter of US nuclear fuel supply and half of the global supply, according to the latest estimates.
Supply from the country has already been shunned by multiple European utilities following the start of its invasion of Ukraine in 2022.
Meanwhile, Statista recently forecast that global uranium demand will reach 209 million pounds by 2035, indicating that new assets will be required to fill that supply gap.
The Office of Australia’s Chief Economist is tipping that price pressures will persist through till 2026, with the price settling at around US$99 a pound in 2026.
Australian growth

The price and volume growth are projected to lift Australian export values from $1.3 billion in 2023–24 to $1.7b by 2025–26.
In addition to increasing nuclear energy demand in Asia, there has been renewed interest in nuclear power in eastern Europe with the Czech Republic expanding its nuclear energy capacity.
The renewed appetite for nuclear power has resulted in several reactor life extensions and restart projects, notably in Japan and Canada.
Australia’s uranium exports are currently produced at the Four Mile and Olympic Dam mines in South Australia.
Boss Energy’s (ASX: BOE) newly-reopened Honeymoon mine is on target for its first uranium sale to occur this month.
A ramp-up at Honeymoon is expected to push Australia’s export earnings.