The price of uranium rose to $58.8 per pound and global demand exceeded annual supply from 2018 to 2022.
The price of uranium concentrate hit a 16-month high of $58.8 per pound (0.45 kg) at the end of August due to the coup in Niger. This was reported by the Financial Times on September 1, citing the analytical company Uranium Exchange Company.
It is noted that the global demand for uranium will exceed the annual supply between 2018 and 2022 and there is a significant change in the global market.
Niger is known as the seventh producer of uranium in the world with 5% of the total production.
Fears are growing that developments in the African country could disrupt fuel supplies, as some of the employees of Orano (specializing in the production of nuclear fuel for French nuclear power plants), which mines uranium in Niger , was evacuated from the country.
Analysts at investment bank Liberum emphasized that this comes at a time when there is “a critical need to reduce carbon emissions in global energy systems and a geopolitical desire to be energy independent.”
Investors increasingly investing in uranium-related funds are “betting that governments will continue to invest in nuclear power and extend the lives of obsolete reactors” amid energy security concerns as result of Russia’s war in Ukraine. the newspaper wrote.
Earlier, the EU said it did not expect problems with uranium supply after the coup in Niger.
Source: korrespondent
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