The nuclear comeback has jolted the $10 billion uranium market after a decadelong bust that deterred mining companies from producing the fuel. The West African country accounts for roughly 5% of the global uranium supply and 24% of European Union imports, according to Morgan Stanley analysts. Approvals are being lined up for another 16, one of which is due to resume operations this month, according to the WNA. The Inflation Reduction Act in the U.S. gave the market another jolt, said Bram Vanderelst, head of uranium at Curzon Uranium. Another supply risk the market is bracing for: U.S. sanctions on Russian uranium.

Source: Wall Street Journal September 13, 2023 18:02 UTC