We see a positive outlook for uranium

Article Excerpt

Demand for uranium is forecast to increase 30% by 2030 and to more than double by 2040. The ramp-up in nuclear power capacity to meet the growing electricity demand from AI datacentres and to lower greenhouse gas emissions should drive those gains. However, the capacity to meet additional demand for uranium remains limited. That’s because the low prices that prevailed for the better part of the past 15 years, plus safety concerns, slowed the development of new mines. A brief history of uranium Uranium was discovered in 1789 by a German chemist, and named after the planet Uranus. The metal’s radioactive properties were discovered only a century later, and the first sustained nuclear reaction was achieved a few decades later under the Manhattan Project. The rapid expansion of nuclear power plants starting in the late 1960s, and the nuclear arms race between the U.S. and the USSR during the Cold War eventually led to a peak in global uranium production in 1980. The end…