December saw Japan adopting a nuclear policy which will restart the country’s nuclear fleet, extend ageing reactors operating life beyond the current 60-year limit and build new ones.
Also in December, the Indian government approved five new nuclear plants and announced financing for ten plants as part of the country’s goal to triple its reactor fleet over the next decade.
The US strategic uranium reserve also awarded its first contracts and while the volumes are not material, the prices paid by the US for the uranium were as high as $70 per pound:
“Given that current spot prices are approximately $50, we believe that this excess price paid for U.S.-origin material reflects the growing concerns by the U.S. Department of Energy about continuing to rely on Russian and other non-friendly countries for critical supply chains.”
Even though there are no official sanctions on Russian uranium, the country’s dominance of…
