Uranium price brings joy

An import ban on Russian uranium is becoming increasingly likely. This should drive up the price of uranium.

Both the USA and Europe import a lot of uranium from Russia. The US House of Representatives has passed a bill aimed at banning uranium imports from Russia. Continued dependency is no longer desirable. The US bill only contains exemptions for low-enriched uranium from Russia if there is a lack of other sources for the operation of nuclear power plants. Last year, the USA covered around 12 percent of its uranium requirements from Russia. 27 percent came from Canada and 25 percent from Kazakhstan. Europe is also considering banning uranium imports from Russia. Around a fifth of Europe’s uranium requirements are imported from Russia. However, France and Hungary are not enthusiastic about this, as these two countries are heavily dependent on uranium. The demand for energy is high and climate targets are on the agenda. The renaissance of nuclear power is therefore leading to an increase in demand for uranium.

Russia has more than 40 percent of the world’s enrichment capacity. It will be difficult to meet this demand. Due to the long period of low prices, there has been little investment in new mines and subsequent processing infrastructure. And there are aging mines that will soon be out of service. Companies such as Latitude Uranium or American Future Fuel should have no shortage of uranium customers in the future.

American Future Fuel – https://www.commodity-tv.com/ondemand/companies/profil/american-future-fuel-corp/ – has a 100% stake in the Cebolleta uranium project in New Mexico, USA. The mineral belt in which the project is located produces around 37 percent of the uranium produced in the USA. The drilling results are very promising.

Latitude Uranium – https://www.commodity-tv.com/ondemand/companies/profil/latitude-uranium-inc/ -, together with ATHA Energy and 92 Energy, will form a leading uranium exploration company. The three most important uranium areas in Canada will then be under one roof. Latitude Uranium is pleased with this development, with successful drill results and that it is well financed to carry out further exploration work.

Latitude shareholders can now consider whether to accept ATHA’s exchange offer of 0.2769 ordinary shares in ATHA for one Latitude share. In any case, the sector is hot and will remain so for the foreseeable future.

Current company information and press releases from American Future Fuel (- https://www.resource-capital.ch/en/companies/american-future-fuel-corp/ -) and Latitude Uranium (- https://www.resource-capital.ch/en/companies/latitude-uranium-inc/ -).

In accordance with §34 WpHG I would like to point out that partners, authors and employees may hold shares in the respective companies addressed and thus a possible conflict of interest exists. No guarantee for the translation into English. Only the German version of this news is valid.

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