Boosting Domestic Uranium Production

The U.S. and Europe face challenges with uranium supply due to dependence on Russian imports and global shortages.

The U.S. is advancing in high-assay low-enriched uranium (HALEU) production with projects like Centrus Energy Corp's facility in Ohio.

The U.K. plans to invest in developing HALEU production capabilities for its next-generation nuclear reactors.

There is great potential for several new uranium production markets as the U.S. and Europe look to diversify away from Russia for new nuclear energy pursuits. The U.S. and several European countries have announced ambitious nuclear power plans for the coming decades, in support of a green transition. 

However, the lack of uranium production outside of Russia is posing a threat to achieving these plans. Sanctions introduced on Russian energy and other products, following the 2022 Russian invasion of Ukraine, have led to global shortages of natural gas, uranium, and other critical materials. 

This has driven several state powers to diversify their supply chains and increase the regional production of a variety of energy sources and related materials. This means we could soon see new uranium-producing markets emerge in Europe and the U.S.  READ MORE...