The recent coup in Niger, the world’s seventh-largest producer of uranium, has raised alarm bells in the global nuclear industry. Market research firm and consultancy UxC has warned that uranium prices, already doubled over the past three years, may soar even higher in the coming weeks.
French nuclear fuel company Orano, operating Niger’s uranium mines, declared that it continued operations despite the coup, relying on its Nigerien staff. However, experts foresee potential disruptions in the market’s psychology, leading to further price fluctuations.
Uranium, crucial for nuclear energy and medical applications, currently trades at $56.25 per pound, with expectations of a bullish trend. Jonathan Hinze, President of UxC, emphasized the overall tight supply/demand balance in the uranium market, making the coup a potential catalyst for upward price movements.
The International Energy Agency (IEA) also projected a surge in global demand for critical minerals, including uranium, amid renewed interest in nuclear power. As concerns over Russian supplies grow, countries turn to Niger, the EU’s second-largest natural uranium supplier last year.
While Niger’s coup raised concerns about uranium supplies, the European Union nuclear agency Euratom assured that Europe’s nuclear power production faces no immediate risk due to sufficient uranium inventories. The situation in Niger, however, warrants close monitoring as geopolitical events continue to shape the global energy landscape.
Check out other articles in our World section.
#Africa #Niger #France #French #junta #uranium #OmarTchiani #MohamedBazoum #Bazoum #CoupdEtat #nuclear
Note: The views, thoughts, and opinions expressed in this article belong solely to the author, and do not necessarily reflect the views and beliefs of Truth Puke/www.truthpuke.com or its affiliates.
Have a tip we should know? email@example.com