uranium news, page-1012

off to work so no more playing for me after this one.
Spot Price relevance
"As in previous years, supplies under multiannual contracts constituted the main source for meeting demand in the EU. Deliveries of
natural uranium to EU utilities under multiannual contracts accounted for 11 496 tU (of which 10 432 tU with reported prices) or
96% of total deliveries, whereas the remaining 4% (479 tU) was purchased under spot contracts."

2. ESA multiannual U₃O₈ price: the weighted average of U₃O₈ prices paid by EU utilities for uranium delivered
under multiannual contracts was calculated to be:
EUR 89.00/kgU contained in U₃O₈ up 25% from EUR 71.37 /kgU in 2020
USD 40.49/lb U₃O₈ up 29% from USD 31.36 /lb U₃O₈ in 2020

Spot price was never even close to this in 2021!!!

"Demand for natural uranium in the EU represented approximately 18% of global uranium requirements"

Table 3. Origins of uranium delivered to EU utilities in 2021 (tU)
Origin Quantity Share (%)
Change in
quantities
2020/2021(2) (%)
Niger 2 905 24.26 13.7
Kazakhstan 2 753 22.99 -7.3
Russia 2 358 19.69 14.1
Australia 1 860 15.54 25.9
Canada 1 714 14.31 11.4
Re-enriched tails 196 1.64 -
Uzbekistan 162 1.36 -50.6
EU 21 0.17 -67.4
South Africa 5 0.04 -78.2
Other (1) 17 0 -
Total 11 975 100.00
Because of rounding, totals may not add up.
(1) material saved through underfeeding, mixed origin and unknown
(2) 2020 includes EU27+U

I think up to 70% of that supply is at risk?


"Figure 8. Total natural uranium equivalent inventories owned by EU utilities at the end of the year, 2017-
2021 (in tonnes)" you need to see this to believe it Its Page 23.

Link to the lot - do not skip page 23