Europe is burdened by the energy crisis and a recession is feared in the USA. The uranium market is expected to remain tight in 2023. Spot uranium prices are therefore expected to rise. Currently, a pound of uranium costs just under US$48. For next year, for example, BafA Securities expects prices to range from $58 to as much as $60 per pound. BafA Securities also increases the expected uranium prices for 2024, 2025, 2026 and 2027. Higher prices should be driven by demand from the French reactor fleet, as well as expected restarts in Japan and strong purchases from the Sprott Uranium Trust. By summer 2023, Japan plans to restart seven nuclear power plants that were shut down after Fukushima. Ten reactors have already been restarted. Japan is thus refocusing its energy future on nuclear power. This alone will increase uranium demand. The USA is also likely to need more uranium. One driver here is the recently announced five-year life extension of the Diablo Canyon reactor in California. This is the only operating power plant in California and also the largest single plant. Overall, uranium demand is forecast to grow 19 percent worldwide, driven by China, Japan and South Korea, among others. France plans to build six new nuclear power plants, with the first ready for production in 2035. There is also potential for more new reactors, he said. Currently, only 30 of France’s 56 reactors are on the grid. Investors can participate in the booming uranium market with stocks such as Labrador Uranium or Uranium Energy.

Labrador is home to Labrador Uranium – https://www.commodity-tv.com/play/labrador-uranium-ceo-insight-on-anna-lake-acquisition-recent-drill-results-and-whats-next/ – with uranium projects. The projects cover almost 140,000 hectares of land.

Uranium Energy – https://www.commodity-tv.com/play/uranium-energy-summary-of-the-latest-acquisitions-uec-is-now-ready-for-rapid-production-start/ – has environmentally friendly and low-cost ISR uranium projects, some of them operational. These are located in Canada and the USA. Uranium Energy has just acquired the Roughrider uranium project located in Saskatchewan.

Current corporate information and press releases from Labrador Uranium (- https://www.resource-capital.ch/en/companies/labrador-uranium-inc/ -) and Uranium Energy (- https://www.resource-capital.ch/en/companies/uranium-energy-corp/ -).

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