19.08.202511:55:34UTC+00Uranium Gains Traction

Uranium futures in the United States have climbed to $73.5, breaking out from their recent stability around the $71.5 mark held since early July. This increase is spurred by a growing commitment from major countries and industries towards nuclear power. Notably, India has set an ambitious target for its nuclear capacity by 2047, aiming to expand it to thirteen times its current level, and has relaxed stringent regulations to allow private companies to mine and process uranium. Meanwhile, Equinix, a prominent data center company, has secured agreements for utilizing nuclear power in its global facilities, echoing a trend undertaken by tech giants like Microsoft, Alphabet, and Meta, who are also investing in nuclear energy for their future datacenters. In parallel developments, top miner Kazatomprom has indicated it will reach a midpoint production of 14 million pounds, marking nearly a 20% reduction from its late 2023 estimates. Furthermore, French company Orano has revealed potential plans to shut down its SOMAIR mine in Niger, prompted by local export constraints.