“The benefits of nuclear power have come clearly into focus, with 28 countries around the world declaring support for the tripling of capacity to help achieve global net-zero greenhouse gas emissions by 2050. The uncertainty about where nuclear fuel supplies will come from to satisfy growing demand has led to increased long-term contracting activity, and in 2023, about 160 million lb. of uranium was placed under long-term contracts by utilities,” said Gitzel.
Prices across the nuclear fuel cycle rose in 2023 and continue to rise. Uranium spot prices more than doubled to $100/lb. at the end of January 2024, after being only $48 at the end of 2022. The long-term price for uranium was $72/lb., an increase of about 38% over the same period.
Year-end revenue for 2023 was C$2.59 billion, up from C$1.87 billion for 2022. Gross profit was C$562 million (C$233 million in 2022) and net earnings were C$361 million (C$89 million in 2022)….
