See how COVID-19 has crippled uranium production and seriously eroded the 2020 Uranium Cost Curve, moving us closer to the market’s long awaited tipping point. Click here to view it. Source: Purepoint Uranium Group Inc.
Uranium has outperformed major commodities this year, even as the energy sector has suffered from a drop in petroleum demand tied to the coronavirus pandemic. The crisis was a “black swan event” that pushed supply-demand fundamentals into a “structural shortfall,” says Scott Melbye, executive vice president at Uranium Energy Corp. “Substantial global uranium mine disruptions” …
The U.S. nuclear industry is coming off its best year ever. Electricity production from nuclear plants hit at an all-time high in 2019 as we led the world in generating more than 809 billion kilowatt-hours of electricity, which is enough to power more than 66 million homes. Yet, despite operating the largest fleet of reactors in …
Uranium futures is one of the few contracts that has experienced price gains in recent weeks, as the economic impact of COVID-19 continues to weigh heavily on prices for most commodities. Front-month uranium futures settlement prices have traded up to $32.50/pound in late April, compared with around $24/pound in early March, when most of the world’s advanced …
Production figures issued by Cameco and Kazatomprom for the first quarter of 2020 show a slight decrease on the same period last year, while those announced by the US Energy Information Administration (EIA) show an 86% year-on-year fall from US facilities. This follows a year when US uranium production was the lowest on record. Kazatomprom …
“This is a bit of a one-two punch in uranium’s favor,” said Nick Piquard, a portfolio manager at Horizons ETFs. “Not only has Covid-19 likely not impacted nuclear power demand very much, but it is certainly impacting supply.” While demand for energy, including nuclear, is taking a hit due to the pandemic, many atomic power …
The U.S. nuclear power fleet last year achieved its lowest recorded average total generating costs in two decades—$30.42/MWh—though it ran at a record-high 93.4% average capacity factor. Total generating costs were 7.6% lower last year compared to the prior year, and have fallen nearly 32% since 2012. The numbers, highlighted in the Nuclear Energy Institute’s …
A massive supply deficit in the uranium market is driving prices to four-year highs at record speed as the coronavirus pandemic wrecks global supply chains. One of the world’s largest producers, Cameco (NYSE:CCJ) has now shut its Port Hope fuel service facility just weeks after suspending operations at its flagship Cigar Lake mine in northern …
Due to COVID-19 containment measures as well as a slump in most every commodity outside of precious metals, uranium production is down by about 50%. Haywood Securities added up the numbers after Cameco (TSE: CCO) announced operation suspensions, writing in a note published Tuesday that “the world’s largest producers [are] announcing a string of temporary …
Uranium mining major Cameco (TSX: CCO; NYSE: CCJ) is extending the temporary production suspension at its Cigar Lake mine in northern Saskatchewan as the effects of the global covid-19 pandemic persist, the company announced on Monday. In late March, Cameco placed the Cigar Lake operation on care and maintenance for four weeks, during which it …