Energy security needs uranium

Although there are no sanctions against Russian uranium, only some Western uranium buyers have imposed sanctions on themselves. Russia is still fulfilling contracts with uranium buyers in the U.S. and Europe. But when these contracts expire, uranium may become scarce unless new contracts are signed. And that is likely to happen. But uranium from Russia is of great importance to the U.S. and Europe. Uranium for European nuclear power plants comes about 20 percent from Russian uranium mines and nearly 20 percent from Kazakhstan. The U.S. must (still) import more than 90 percent of the uranium it needs, with nearly half coming from Russia and Kazakhstan (as of 2021). So there is a strong dependency. No wonder, then, that the USA or the EU would like to reduce their dependence on Russia.

In the coming years, an estimated 60 new nuclear power plants will begin operation and require additional uranium. Approximately 180 million pounds of uranium are needed by the reactors currently in operation, and the trend is rising. A shortfall is inevitable. That's where new uranium mines are needed. Because of the increased costs, a pound of uranium would have to cost between $75 and $100, according to estimates, whereas it now costs just under $52 per pound. In the U.S., Uranium Energy is a major growing uranium company. The company just delivered uranium concentrates as part of a collaboration with the U.S. Department of Energy.

That's because Uranium Energy - https://www.commodity-tv.com/play/mining-newsflash-with-uranium-energy-revival-gold-condor-gold-fury-gold-calibre-mining/ - owns environmentally friendly and low-cost uranium projects in the U.S., some of which have already been approved.

In addition, there is a large physical uranium stockpile as well as participation in Uranium Royalty - https://www.commodity-tv.com/play/uranium-royalty-royalties-at-cameco-restarting-production-demand-pressure-on-uranium-price-ahead/ -, the only uranium royalty company. A famous uranium area is the Athabasca Basin in Saskatchewan. There, for example, IsoEnergy is working on promising and high-grade uranium projects.

Current company information and press releases from Uranium Energy (- https://www.resource-capital.ch/de/unternehmen/uranium-energy-corp/ -).

In accordance with §34 of the German Securities Trading Act (WpHG), I would like to point out that partners, authors and employees may hold shares in the respective companies addressed and that there is therefore a possible conflict of interest. No guarantee for the translation into German. Only the English version of this news is valid.

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