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Global Governments Are Ushering in the Uranium Era

September 17, 2023
x min read

Uranium is on the move.

With global governments beginning to accelerate their adoption of nuclear energy, uranium prices are surging. And there are no signs it will slow down anytime soon.

What’s happening:

  • Uranium price has been on sharp rise, driven by a rapidly increasing global demand
  • Many are speculating that physical uranium could become scarce given the race to build out nuclear energy infrastructure
  • Global governments from the United States to South Korea are making plans for increasing their nuclear independence and large scale uranium supply is becoming increasingly valuable

How it works:

  • Uranium is naturally occurring in low concentrations in soil, rock and water
  • On a large scale uranium is extracted from minerals such as uraninite
  • Uranium powers nuclear reactors through fission

Who is making moves:

  • Japan has been announcing a renewed focus nuclear projects, including restarting up to forty different commercial nuclear reactors over the next half a decade
  • The United States continues to rapidly ramp up capacity for nuclear energy, including new funding support from the Department of Energy
  • China is expanding nuclear plants at a feverish pace, including the recent approval of six new nuclear power generation units to expand three large nuclear plants which will require $16B in new capital

By the numbers:

  • Spot uranium prices are at a high not seen since 2011
  • Sprott Physical Uranium Trust (TSX: U-UN)  is up +36% since the start of the year
  • Sprott Uranium Miners ETF (NYSE: URNM) is up +42% since the start of the year

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