01.09.202515:39:03UTC+00Uranium Extends Traction

Uranium futures in the United States have climbed to $76.5, gaining momentum following a period of stability around $71.5 since early July, driven by reduced supply and optimistic long-term predictions for nuclear energy. Canada’s Cameco, the world’s second-largest uranium miner, has revised its annual production forecast downward due to expansion delays at its McArthur mine in Saskatchewan. Furthermore, leading producer Kazatomprom reported plans to slash output by 10% in the coming year, attributing the decision to the volatility in the spot mined uranium market. Meanwhile, India has set an ambitious target to increase its nuclear capacity by 2047 to 13 times its current level, while also relaxing regulations to allow private companies to mine and process uranium. In a similar vein, data center giant Equinix has secured agreements for nuclear power facilities at its global data centers, echoing a broader industry pattern with tech giants like Microsoft, Alphabet, and Meta also investing in nuclear energy solutions for their prospective data centers.