popular articles

Uranium: Soaring Prices, New Nuclear Era

Faced with limited supply and growing demand, the price of uranium reached its highest level in 17 years, signalling a global revival in nuclear power.

Please share:

The uranium market is experiencing a period of intense activity, with prices reaching their highest levels for almost two decades. The rise in uranium prices, with the benchmark U3O8 contract reaching $85.75 per pound, is a remarkable phenomenon that reflects several global dynamics. This increase is mainly due to renewed interest in nuclear power as part of the energy transition, as well as growing concerns about the security of oil and gas supplies, exacerbated by geopolitical tensions, notably Russia’s invasion of Ukraine.

International Response and Nuclear Renewal

The international response to this new uranium market dynamic is varied. Several European countries, including France, Belgium, the UK and Romania, have opted to extend the operation of their existing nuclear power plants. In the United States, the decision to extend the life of the Diablo Canyon reactors in California is another indicator of this trend. At the same time, the boom in new nuclear projects in China, India, Turkey and Egypt testifies to a renewed worldwide interest in this form of energy.

Supply constraints and future implications

Global uranium supply, however, is struggling to meet this growing demand. Kazakhstan, which dominates world production, faces significant logistical challenges, and political tensions in Niger and recent policy decisions, such as theUS embargo on Russian uranium, add to market uncertainty. The involvement of major financial players, such as Canada’s Sprott Group, in the accumulation of uranium reserves also has a significant impact on prices. These developments suggest that, although mining is adapting, the uranium market will remain tight in the short term.
This situation on the uranium market, characterized by high prices and rising demand, underlines the growing importance of nuclear power in the global energy mix. As countries seek alternatives to fossil fuels, uranium is becoming a key player in the energy transition. However, supply-side challenges and the associated geopolitical implications require sustained attention. The evolution of the uranium market will therefore be a crucial barometer for assessing the future of nuclear power in the years to come.

Register free of charge for uninterrupted access.

Publicite

Recently published in

Fermi Energia has signed a strategic agreement with Samsung C&T to develop two small modular reactors in Estonia, targeting commercial operation by 2035.
China National Nuclear Corporation mobilizes international investors and financial partners for a unique nuclear project combining two distinct technologies to simultaneously supply industrial heat and electricity, marking a new strategic step for China's energy industry.
China National Nuclear Corporation mobilizes international investors and financial partners for a unique nuclear project combining two distinct technologies to simultaneously supply industrial heat and electricity, marking a new strategic step for China's energy industry.
Framatome and TechnicAtome have acquired Segault, a strategic nuclear valve manufacturer, thereby blocking a takeover by the American firm Flowserve following opposition from the French government.
Framatome and TechnicAtome have acquired Segault, a strategic nuclear valve manufacturer, thereby blocking a takeover by the American firm Flowserve following opposition from the French government.
The United States Nuclear Regulatory Commission has approved a 20-year extension for the operating licences of Oconee Nuclear Station, reinforcing energy supply in the Carolinas amid growing regional demand.
The United States Nuclear Regulatory Commission has approved a 20-year extension for the operating licences of Oconee Nuclear Station, reinforcing energy supply in the Carolinas amid growing regional demand.
A radioactive steam leak detected in the reactor building of Flamanville unit 1 forces EDF to postpone its restart by one month, according to the Nuclear Safety and Radiation Protection Authority.
French firm Framatome has been selected to modernise control systems at Switzerland’s Leibstadt nuclear plant, as part of a strategic investment aiming to extend its operation through 2045.
French firm Framatome has been selected to modernise control systems at Switzerland’s Leibstadt nuclear plant, as part of a strategic investment aiming to extend its operation through 2045.
The U.S. Department of Energy reopens a $900M envelope to finance the construction of third-generation small modular reactors, aiming to rapidly expand national power capacity.
The U.S. Department of Energy reopens a $900M envelope to finance the construction of third-generation small modular reactors, aiming to rapidly expand national power capacity.
HYLENR Technologies has signed a memorandum of understanding with TakeMe2Space to test a low-energy nuclear reaction power solution aboard satellites designed for orbital computing.
HYLENR Technologies has signed a memorandum of understanding with TakeMe2Space to test a low-energy nuclear reaction power solution aboard satellites designed for orbital computing.
Japanese researchers have assembled a rechargeable battery harnessing the chemical properties of uranium, aiming to convert stored depleted uranium into a strategic energy storage resource.
The French government is pressing EDF and industrial players to reach a pricing agreement by summer, amid ongoing tensions over nuclear supply contracts.
The French government is pressing EDF and industrial players to reach a pricing agreement by summer, amid ongoing tensions over nuclear supply contracts.
Two small modular reactor developers begin preliminary engagement with the US nuclear authority, ahead of filing applications for distinct projects targeting industrial use cases.
Two small modular reactor developers begin preliminary engagement with the US nuclear authority, ahead of filing applications for distinct projects targeting industrial use cases.
Fortum continues preparations for new nuclear capacity in Finland and Sweden, selecting three suppliers after a two-year feasibility study.
Fortum continues preparations for new nuclear capacity in Finland and Sweden, selecting three suppliers after a two-year feasibility study.
NRG-Pallas will conduct irradiation tests necessary for qualifying materials and fuel of Kairos Power's modular reactor, a critical prerequisite for regulatory approval in the United States.
Tokyo Electric Power Company will begin next week the removal of thousands of contaminated sandbags, stored since 2011 in the Fukushima Daiichi basements, using robots designed for high-radiation environments.
Tokyo Electric Power Company will begin next week the removal of thousands of contaminated sandbags, stored since 2011 in the Fukushima Daiichi basements, using robots designed for high-radiation environments.
Welding of the main reactor for Egypt’s El Dabaa nuclear power plant has been completed in Russia, marking a major milestone in the development of the country's first civilian nuclear programme.
Welding of the main reactor for Egypt’s El Dabaa nuclear power plant has been completed in Russia, marking a major milestone in the development of the country's first civilian nuclear programme.
Kazakh President Kassym-Jomart Tokayev has established a new agency to oversee nuclear energy, appointing Almassadam Satkaliyev as its head. This structure aims to enhance the country’s energy security and support its long-term nuclear ambitions.
Kazakh President Kassym-Jomart Tokayev has established a new agency to oversee nuclear energy, appointing Almassadam Satkaliyev as its head. This structure aims to enhance the country’s energy security and support its long-term nuclear ambitions.
The US Department of Energy allocated a $57 million loan to Holtec International to support the relaunch of the Palisades nuclear plant, which has been closed since 2022, to ensure compliance with NRC safety standards.
Orano and Navoiyuran have signed a strategic agreement for the industrial development of the South Djengeldi uranium deposit in Uzbekistan, with the entry of Japanese company ITOCHU Corporation as a minority partner.
Orano and Navoiyuran have signed a strategic agreement for the industrial development of the South Djengeldi uranium deposit in Uzbekistan, with the entry of Japanese company ITOCHU Corporation as a minority partner.
Chubu Electric starts dismantling reactors at Hamaoka plant, marking a turning point in the management of its nuclear sector as Japan plans to gradually reintroduce nuclear energy into its energy mix.
Chubu Electric starts dismantling reactors at Hamaoka plant, marking a turning point in the management of its nuclear sector as Japan plans to gradually reintroduce nuclear energy into its energy mix.
President Emmanuel Macron has announced an additional delay for the commissioning of the first EPR2 reactors, now set for 2038 instead of 2035. This decision was made during a meeting dedicated to the nuclear program.
President Emmanuel Macron has announced an additional delay for the commissioning of the first EPR2 reactors, now set for 2038 instead of 2035. This decision was made during a meeting dedicated to the nuclear program.
Tests on the concrete of the EPR2 Penly seawall have raised doubts about its compliance with safety standards, according to Mediapart and Reporterre. EDF and Eiffage contest these claims, asserting that the material meets technical requirements.
On Monday, President Emmanuel Macron will chair a Nuclear Policy Council focused on small modular reactors (SMRs) and uranium supply, within a global context of renewed interest in nuclear energy.
On Monday, President Emmanuel Macron will chair a Nuclear Policy Council focused on small modular reactors (SMRs) and uranium supply, within a global context of renewed interest in nuclear energy.
A group of technology and energy companies, along with 31 countries, has signed a pledge to triple global nuclear capacity by 2050, supporting a strategic expansion of this energy source.
A group of technology and energy companies, along with 31 countries, has signed a pledge to triple global nuclear capacity by 2050, supporting a strategic expansion of this energy source.
Rafael Mariano Grossi, IAEA Director-General, is visiting Niger to discuss nuclear cooperation. This visit comes at a time when the country, a major uranium producer, is experiencing internal political tensions.
Rafael Mariano Grossi, IAEA Director-General, is visiting Niger to discuss nuclear cooperation. This visit comes at a time when the country, a major uranium producer, is experiencing internal political tensions.

Advertising