“The market is also preparing for imminent loss of production of two longstanding mines in Australia (Ranger) and Niger (Arlit).”.    Rare Earth Elements, Basic Information | Atomic Structure | Isotopes | Related Links | Citing This Page. These are one kind of multilateral nuclear approaches (MNA) called for by IAEA. The Baselode head believes the spot market will appreciate, and government green energy deals will help encourage the erection of new nuclear projects, including small modular reactors (SMRs). Johnson, who is vice president of fuel cycle at UxC, said that moves from Kazakhstan’s Kazatomprom were also a catalyst. The primary source of uranium exposure is well water, though modern-day manufacturing and nuclear energy have also contributed to the amount of uranium making its way into our water and natural environment. Persistent production disruptions in 2020 and into 2021 could be the catalyst that brings utility companies to the table after years of speculation about when they will draft new supply deals. “All those things are kind of changing,” he said. “Uranium Energy Corp. is a U.S.-focused developer of uranium projects using the low-cost and environmentally friendly in-situ recovery method,” he said. In terms of SMRs, Johnson also expects a more prolonged timeline, especially in light of recent developments. Given that current uranium supply can’t meet existing demand, another factor that could motivate prices is an increase in demand. Uranium Outlook 2021: Positive Fundamentals Point to Growth Georgia Williams — December 21, 2020 2020 was an eventful year for uranium, but what's the “But it takes the better part of a year for even a mothballed in situ recovery mine to ramp back up to full speed, so those are the ones I expect to deliver new uranium projects first,” said Tiggre. Uranium is a radioactive element denoted by the chemical symbol U. Nuclear energy is now recognised as an essential element of the clean energy mix, which potentially enables nuclear power to increase its contribution from currently around 10% of global electricity. All readers are encouraged to perform their own due diligence.    Alkaline Earth Metals The Canadian Saskatchewan mines are the exception and have yields of more than 20% uranium. Despite being US$21 short of the US$50 threshold often cited as the level that will incentivize projects, the U3O8 spot price has added 21 percent to its value year-to-date, and 37 percent from its January low to its May high. LEU is made by enriching naturally occurring uranium to improve its ability to produce energy. “The event underscores the fact that while many people believe the pandemic is nearing an end, there’s still a long way to go before it’s actually behind us,” he said. “In South Texas, we have our hub & spoke strategy. The massive output decline pushed prices to US$33.93 in May, the highest value year-to-date. These developments are especially promising for junior companies. A single uranium fuel pellet, the size of a pencil eraser, contains the same amount of energy as 17,000 cubic feet of natural gas, 1,780 pounds of coal or 149 gallons of oil. “Uncertainty was the biggest challenge for 2020 in the uranium industry. The company estimates that it would cost US$15.4 million to get production fully restored to 1 million pounds per year and would take 6 to 9 months.    Electron Configuration Click here to read the previous uranium outlook. “However, it’s important to note that both initiatives will likely only show real market impacts over the longer term.”. This page was created by Yinon Bentor. It consists of uranium hexafluoride that is a white-grey, waxy solid at standard temperature and pressure.    Noble Gases Uranium is found in small amounts in most rocks, and even in seawater. Summary: With nuclear power back on the agenda of some big energy markets, demand for uranium now exceeds pre-Fukushima levels and has outstripped primary supply over the past few years. Prior to the November vote, US President Donald Trump had called for the building of a strategic uranium stockpile. Energy Fuels’ Moore shares the sentiment that years of stagnation have led to uranium’s moment. “The big one is news of new long-term contracts between the utilities and the big miners,” he said. “This is the logjam that changes everything when it breaks.”. The potential for utility companies to come to market will also be intensified by a decrease in the amount of U3O8 Japan is selling into the market. This will definitely be a major issue to monitor in at least the first half of 2021.”, When asked if 2021 will be the year utilities sign contracts, Tiggre responded jokingly, commenting, “Yes. Experts are unsure if Joe Biden will back Trump’s stockpile proposal, although the president elect appeared to be pro-nuclear energy on the campaign trail, noting that he would support the advancement and implementation of SMRs.    Number of Neutrons All Rights Reserved. COVID-19 lockdowns in Canada forced Cameco (TSX:CCO,NYSE:CCJ), a leading producer, to curtail its only operating mine in Canada, which significantly impacted global supply and pushed the U3O8 spot price north of US$30 for the first time since 2016. “However, even under the current pro-nuclear Trump administration, the project is encountering some serious headwinds as several of the municipalities behind the project have recently backed out due to rising project costs. Uranium Energy (UEC) share price, charts, trades & the UK's most popular discussion forums. Silver and Gold Manipulation: Are the Prices Suppressed?    Halogens The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. Use of this web site is restricted by this site's license “Uranium was one of the best-performing commodities (in 2020) with gold, one of the few commodities that was up on the year.”. When asked what factors he will be watching in terms of price motivators into 2021, the CEO of Louis James was adamant about utility contracting. “They are depleting and must be replaced at some point at a price that incentivizes mine production. These and other recoverable uranium ores, as sources of nuclear fuels, contain many times more energy than all the known recoverable deposits of fossil fuels. This article is not paid-for content. Moore, who is vice president of marketing and corporate development for the American resource company, went on to note that prices still remain below what is needed to ramp up production. Try our corporate solution for free! However, flooding and environmental concerns make the future of mining in this region uncertain. “There will need to be a major price adjustment of uranium soon to accommodate an undersupplied market with growing demand.”.    Atomic Number Editorial Disclosure: Baselode Energy, Energy Fuels and IsoEnergy are clients of the Investing News Network. However, naturally occurring uranium does not have a high enough concentration of 235 U at only about 0.72% with the remainder being 238 U. This is anchored by our fully licensed Hobson Processing Facility – one of only a few uranium processing plants in the country. “When (prices) recovered, I think people started to take more notice,” said Nicolas Piquard, vice president, portfolio manager and options strategist at Horizons ETFs (TSX:HURA).    Alkali Metals Don’t forget to follow us @INN_Resource for real-time updates! Source: Streetwise Reports (2/22/21) Amir Adnani, president and CEO of Uranium Energy Corp., in this interview with Streetwise Reports, discusses the creation of the U.S. Strategic Uranium Reserve, the large structural deficit in uranium, and what actions the company is taking to supply the reserve and position itself as long-term fundamentals underlying the market continue to strengthen. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. Uranium Trends 2020: Deep Production Cuts Fuel... << Uranium Trends 2020: Deep Production Cuts Fuel Price Growth, Top Uranium Stocks on the TSX and TSXV >>, Start Here!    Atomic Mass The slurry is leached with sulfuric acid or an alkaline solution to di… Depleted uranium is the waste product of uranium enrichment in nuclear reactors, and is basically what’s left over when the highly radioactive isotopes of uranium are removed[17]. Precious Metals Outlook: CEO’s, Analysts on Gold, Silver and Platinum, Resource Investing in Australia: Stocks to Watch, Tech Forecast and Promising Tech Stocks To Buy, Life Science and Healthcare Investing in 2021, Psychedelics Outlook - Plotting a New Course, Archived - Coronavirus Investing: An Overview for Investors, Archived - Pharmaceutical Investing Principles And Pharmaceutical Stocks To Buy, Archived - Biotech Investing - Top Stocks, ETFs and Future Prospects. About This Site open pit or underground) were the main source of uranium. Complete uranium output numbers for 2020 are still a few months away, but during an April webinar, Johnson and UxC estimated that production will be reduced by as much as 13.1 million pounds, representing a 9 to 12 percent drop from the firm’s pre-pandemic forecast. This statistic provides an overview of the production levels at the world's highest-yielding uranium mines in 2019. “However, by their nature, inventories are finite,” Moore continued. “In many ways, history is repeating, and we might be in the beginning of the next run in uranium prices. In 2019, output from all countries was 64,566 tonnes, or 142.3 million pounds, accounting for 81 percent of all global demand. That optimism was also echoed by James Sykes, CEO and president of Baselode Energy (TSXV:FIND,OTCQB:BSENF). Thus, the SMR project, much like the uranium reserve, will likely only impact the market over a longer-term horizon, if at all.”.    Date of Discovery Previously unknown uranium I energy levels have been classified according to configuration using pattern-recognition techniques. It is believed that a sinking uranium price in 2018 and 2019 kept electricity-generation companies from penning deals, something that Piquard thinks will change as prices continue to climb. Number of Energy Levels: 7 First Energy Level: 2 Second Energy Level: 8 Third Energy Level: 18 Fourth Energy Level: 32 Fifth Energy Level: 21 Sixth Energy Level: 9 Seventh Energy Level: 2 Uranium Energy level 2 order book with share price and UEC stock charts. While the U3O8 spot price did increase considerably over the year from January, Curtis Moore of Energy Fuels (TSX:EFR,NYSEAMERICAN:UUUU) explained that is only a small part of the larger sector. Uranium Producer - Uranium Energy Corp is a U.S.-based uranium production and exploration company operating North America’s newest uranium mine. Free real-time prices, and the most active stock market forums. A 13 million pound decline into 2021 will likely continue to support a higher price. agreement. Consensus believes uranium demand needs to increase by over 100% from current levels by 2050 if decarbonisation is to take place. The other leftover isotopes of uranium that remain after most of the 235U has been extracted is referred to as depleted uranium (DU). “The spot market is driven mainly by traders and intermediaries, often transacting the same material amongst themselves,” explained Moore. Uranium mines operate in many countries, but more than 85% of uranium is produced in six countries: Kazakhstan, Canada, Australia, Namibia, Niger, and Russia. As Philip Johnson of research firm UxC explained, Cameco’s temporary shuttering of the Cigar Lake mine in Saskatchewan was just one of the catalysts that helped send U3O8 values to a four year high. Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article. What were the main uranium trends in 2020? After mining, the ore is crushed in a mill, where water is added to produce a slurry of fine ore particles and other materials. UxC’s Johnson pointed to Cameco’s decision to shut Cigar Lake down again following its September restart as evidence that the industry is not out of the woods in terms of COVID-19 impacts. In addition, five kilograms of natural uranium contain the same amount of energy as 60 tons of hard coal. Most reactors today are “light water” reactors, and they operate by splitting uranium atoms to generate energy in a process known as fission. “Anything that still needs to be built will take much longer.”. Until now, stockpiles made up the difference, but even those are being depleted. Use of LEU Stored at the Bank. AUM: US$18.7-million. Uranium Energy Corp (UEC: NYSE American) is a U.S.-based uranium mining and exploration company.In South Texas, the Company’s hub-and-spoke operations are anchored by the fully-licensed Hobson Processing Facility which is central to the … Whether nuclear energy will be a top priority of the Biden administration remains to be seen, but as Piquard pointed out, for a president inheriting a deeply divided government, nuclear may be the one issue everyone can get behind.
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