RUSSIA AND CHINA ARE CREATING A CRITICAL SHORTAGE OF URANIUM IN THE WEST

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The recovery of the nuclear sector pushes demand for uranium to new peaks, with a projection of almost triple by 2040, according to the World Nuclear Association. The previous decline in prices, following the Fukushima incident in 2011, had slowed production mainly in Central Asia and Africa. Today, as demand increases again, the capacity of these countries to rise in power remains uncertain. Anticipated demand growth According to the World Nucl…

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Financial Times Kazakhstan, which supplies 40% of the world’s uranium, is reorienting itself to the Russian and Chinese markets, depriving Western customers of fuel for nuclear reactors, the Financial Times reports. Twenty-eight percent of the total volume of uranium mined by Kazatomprom in 2023 came from buyers from the United States, Canada, France and Britain. In 2021, that figure was 60%. Russia and China are rapidly increasing the volume of…