American and European companies in nuclear energy supply chains are increasingly against the potential supply shocks in the uranium market amid intense resource competition from China and Russia and the surge in nuclear power to meet electricity demand It's becoming vulnerable.
Nowadays, many countries are cutting nuclear power, relying on oil and gas imports, meeting the growing electricity demand from AI and data centers, which requires a greater supply of uranium.
However, China and Russia are moving to secure supply from African countries, buying important nuclear fuels from Kazakhstan, the world's largest producer of uranium, and prefer to diversify sales.
Not all nuclear industry and western energy companies have realized that competition for the supply of uranium is leading to supply crunch, industry executives say Financial Times.
“We're on a depletion curve that many customers don't think is happening,” said Cory Kos, vice-chairman of investor relations at Cameco, the largest Western supplier based in Canada. .
Uranium demand is set to surge in the coming decades amid plans to expand nuclear power in many countries, including the US, but Western companies compete with China and Russia for supply We are seeing an intensification.
“Russia and China are rapidly expanding their off-takes of uranium mined from international partners, uranium enrichment capabilities and nuclear infrastructure,” said Greserin Baskaran and Meredith Schwartz, Washington, DC Centre for Strategic and International Studies (CSIS). ) is written in. Report Early this month.
“To strengthen the uranium and nuclear fuel supply chain, the US must work with its allies to promote control of trade and tariffs, and invest in both domestic enrichment capabilities and overseas uranium ore production. Hmm,” they pointed out.
By Tsvetana Paraskova on ofprice.com
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