Most of those American mines were idled in the aftermath of Fukushima, when uranium prices crashed and countries like Germany and Japan initiated plans to phase out nuclear reactors.
Now, With governments turning to nuclear power to meet emissions targets and top uranium producers struggling to satisfy demand, prices of the silvery-white metal are surging. And that’s giving those once-unprofitable uranium operations a chance to fill a supply gap.
Uranium has been used as an energy source for more than six decades, fueling nuclear power plants and reactors. About two-thirds of global production comes from Kazakhstan, Canada and Australia.
Uranium will be a topic of conversation as thousands of mining executives, geologists and bankers descend on Toronto for the Prospectors & Developers Association of Canada gathering this week. The annual event has attracted at least 10 uranium firms, including Denison Mines Corp., Fission…
