2023-09-17 08:48:52
The price of uranium, necessary for the operation of nuclear power plants, rose to a level not seen in 12 years after the return of the popularity of nuclear energy. According to the data, the price of the commodity rose 12% in the past month and has now reached $65.50 a pound, the highest price since the 2011 Fukushima nuclear disaster. Behind this drastic increase in the exchange rate is a change in opinion about nuclear energy, as governments have realized that wind and solar energy alone cannot meet the countries’ huge energy needs. “Focusing on energy security conflicts with the pursuit of clean energy.” – said the financial director of Cameco, the world’s second largest uranium producer. After the Fukushima disaster, the production of the raw material declined, as the demand for it dropped considerably. However, the demand has now changed, so much so that according to some, there may be a shortage on the market. He suggested as much in a Wall Street Journal report. According to them, the price of uranium has risen by 30% since the beginning of the year, as new nuclear power plants were put into operation and efforts were made to extend the life of older ones. The recent military coup in Niger worsened the situation, as the country supplies 5% of the world’s uranium and a quarter of Europe’s uranium. Then there is Russia, the world’s largest uranium processor and one of its largest suppliers. Analysts fear that the EU and the United States may impose sanctions on the Russian uranium industry, which would have a significant impact on the supply of the nuclear industry.
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