Friday, August 25, 2017

Uranium demand growth continues

Economic Calendar:

While uranium prices may be low, the demand outlook for the commodity improves by the day, with more and more progress made when it comes to nuclear power plants.

The United Arab Emirates (UAE) is moving forward with its nuclear power ambitions, making it the first Gulf state to have a peaceful nuclear energy program. The company’s Barakah Nuclear Energy Plant is scheduled to launch next year. Originally, it was supposed to be this year but the project was delayed due to technical reasons. After the UAE, ally Saudia Arabia has also said it aims to develop a peaceful nuclear energy program.

Outside of the nutty western countries nuclear power is realized to be one of the best choices for clean, cheap, reliable power. The demand for uranium will continue to grow yet these low prices will not stimulate new mines to be built. The price of uranium must rise to incentivize people to go through the gauntlet of trying to permit and build new uranium mines.

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