Uranium market activity continues to generate an influx of interest and is projected for significant growth in the coming years.
According to Business Research Insights, it is estimated that the uranium market will reach US$3.9 billion by 2032, growing at a compound annual growth rate of 3.6 per cent between now and then.
In this feature, The Market Online dives into trends in the uranium space – including spot price updates, industry news and companies that have generated intrigue over a weekly period.
Highlights from the week include:
- a further decrease in uranium spot prices
- Orano SA potentially losing the rights of a Niger uranium mine to Russia
- companies reporting drilling results and initiating drilling programs
Uranium spot price update
As of the time of this writing on Wednesday, the uranium spot price sits at an even US$85.70, according to data from Business Insider, and is down 0.34 per cent from last week’s market update.
Industry news
Orano SA, a multinational nuclear fuel cycle company, could potentially lose the rights to mine uranium at one of the world’s largest deposits.
On Monday it was revealed that Russia could potentially take over the mining assets, which is one of Niger’s largest uranium mines.
Niger’s mining industry has claimed the deposit “doesn’t meet the authorites’ expectations.”
Uranium companies in the spotlight
Baselode Energy (TSXV:FIND) revealed it is now drilling at its ACKIO uranium prospect in the Athabasca Basin in Saskatchewan.
“We are excited to be finally be back at our flagship Hook project, where we will be looking to expand upon our near-surface uranium discovery ACKIO. Additional drilling on ACKIO offers excellent prospects for expanding the known zones and making new discoveries along strike and depth,” James Sykes, CEO of Baselode Energy, said in a statement.
Shares of Baselode Energy are down 2.04 per cent over a five-day period to close at C$0.24 on Wednesday.
Appia Rare Earths and Uranium (CSE:API) announced details of its upcoming diamond drilling program at the Loranger property in Saskatchewan.
The company stated the focus of this program is to strategically target highlighted NE-SW electromagnetic conductors at depth using results from the VTEM Plus geophysical survey conducted in 2021
Shares of Appia Rare Earths and Uranium are up 4.55 per cent over a five-day trading period to close at $0.12 on Wednesday.
Finally, Blue Sky Uranium (TSXV:BSK) announced the acquisition of two new projects totalling nearly 80,000 hectares that are prospective for the discovery of uranium deposits amenable to in situ recovery in the Neuquén Basin of Argentina.
Thanks to these acquisitions, the company strengthens its position as a key player in uranium exploration in Argentina.
Over a five-day trading period shares of Blue Sky Uranium are up 16.67 per cent to close at C$0.07 on Wednesday.
What will be the top uranium headlines next week? Stay tuned!
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