Uranium Week: Load Up The Camels

Weekly Reports | Nov 22 2022

As uncertainty remains over the future of Russian uranium exports, another transport route, which bypasses Russia, is offering an alternative.

-Spot uranium market remains quiet
-Utilities turning to beyond-spot contracts
-Crossing the Caspian

By Greg Peel

As the COP27 conference came to a close in Egypt on Friday, it is clear nuclear energy is playing a crucial role during the current geopolitical situation and must be included when reshaping an energy paradigm and policies going forward.

This was the message presented by the international nuclear energy industry, industry consultant TradeTech reports, which issued a joint statement in support of nuclear's role in the global energy sector today and in the future.

The document submitted by the group calls for decision makers to acknowledge and support the need for increased nuclear energy generation around the world to improve energy security and reduce dependence on fossil fuels, to ensure a fair and affordable transition to a zero-carbon economy, and to safeguard jobs and economic growth.

Getting the message last week was the new UK (conservative) government, which formally announced support for the first state-funded nuclear power plant in over 30 years.

Brazil was also listening, where the new government has restarted a project to complete a new plant, which will also be state-funded and operated.

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