ENCUF - Why Uranium Prices Have Been Rising

Uranium contract prices are now above the levels that existed before the Fukushima power plant disaster in 2011. Although demand for nuclear fuel is increasing, global production of uranium has fallen off. So far in 2021, there have been two significant uranium mines closed. They are Ranger mine in Australia’s Northern Territory operated by Energy Resources of Australia (ASX: ERA) and COMINAK’s Akouta mine in Niger, which had been in service for nearly half a century. With the temporary suspension of its Cigar Lake mine in December 2020, Cameco (TSX: CCO, NYSE: CCJ) temporarily suspended production of its Cigar Lake mine in December of 2020. This left them behind on production by 1.5 million pounds. The world’s largest uranium operation, Cameco’s McArthur River mine, suspended operations back in July 2018. Read More >>