https://finance.yahoo.com/news/largest-uranium-producing-country-world-190136040.html"The Rising Uranium Market: A Powerhouse for Nuclear Energy and Global GrowthUranium is a naturally occurring radioactive element found in the earth’s crust that is necessary for the creation of nuclear energy.
Due to its high radioactivity and long half-life, uranium is not only used as a fuel in nuclear reactors but is also an essential component in the manufacture of nuclear bombs and warheads.
The global uranium market was valued at $2,736.31 million in 2022 and it is projected to reach an impressive valuation of $3,398.52 million by the year 2028. The uranium market is forecast to grow at a compound annual growth rate of 3.68% during the forecast period of 2023 to 2028, according to a report on 360 Market Updates. This market is expected to expand given the rise in demand for the heavy metal.
Moreover, the demand for uranium in nuclear reactors is forecast to increase at a rate of 28% by the year 2030, with the main reason for the increased demand being the government’s aims to achieve net-zero targets globally.
With an expected increase of 14% in nuclear capacity by 2030 and an expected increase of 76% by the year 2040, the demand for uranium is going to show an upward trajectory in the coming years."Hold on, I should say diversify from the traditional fossil fuels, as we adapt to the New Energy Age.
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