Today's Fin Review:
It’s the ‘new lithium’: Uranium tipped to extend bull run into 2024
"Bullish analysts have labelled uranium the “new lithium”, betting that demand will surge, after 22 nations pledged at the COP28 summit to triple nuclear capacity while China targets a fresh supply of the heavy metal for its ballooning nuclear ambitions."
“This was an extraordinary COP28 for nuclear,” said Guy Keller a fund manager at Tribeca. “China wants to go from 30 million pounds a year of consumption to 150 million in just 15 years.
“When China makes a structural change to embrace a raw material it’s short of domestically, it creates a multi-decade demand for that raw material.
"Bell Potter analyst Regan Burrows said uranium prices could “easily go through the roof” if geopolitical risk and soaring demand stoked another supply chain shock similar to the event that sent uranium prices to $US140 a pound in 2007, before the global financial crisis and Japan’s Fukushima accident in 2011 hobbled enthusiasm for the sector.
"Mr Burrows said Bell Potter backed ASX-listed Boss Energy, Paladin Energy, Deep Yellow and Alligator Energy as speculative buys to ride the surging uranium price.
Mr Keller said uranium was comparable to a “new lithium” as Chinese-fuelled demand soared and given COP28’s nuclear energy pledge."
https://archive.md/ulK92#selection-1905.0-1905.130
Nuclear Power, page-1309
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