Uranium prices hit 12-year high as governments warm to nuclear power

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Uranium prices hit 12-year high as governments warm to nuclear power
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Cost of ‘yellowcake’ jumps to levels not seen since before 2011 Fukushima disaster

’s re-emergence as a critical carbon-free source of baseload power in global efforts to tackle climate change, a role that had been undermined by Japan’s Fukushima nuclear disaster in 2011.

The pullback in uranium demand and prices following the Fukushima disaster led to a dearth of new mining projects being developed, helping to lay the groundwork for higher prices now. Prices are still some way off their $73-per-pound level before the Fukushima disaster, which left the uranium market oversupplied for more than a decade after Japan and Germany began decommissioning their nuclear fleets.

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