Demand for nuclear energy is coming back strong.
In fact, with the global community intensifying its fight against climate change, nuclear energy is quickly emerging as a promising pathway to help solve the issue.
Unfortunately, according to some analysts, there may not be enough supply to go around, as noted by Yahoo Finance. “The squeeze on the metal, found in rocks and seawater, intensified recently after 22 countries, including the US, recently signed a pact at the UN Climate Change Conference to triple their nuclear power capacity by 2050,” they added.
Plus, one of the world’s biggest producers of uranium, Kazatomprom warned it’s likely to fall short of production targets over the next two years, “adding another risk to supply as demand for the nuclear fuel rebounds,” as noted by Bloomberg.
“The mining company controlled by Kazakhstan’s government via its sovereign wealth fund said shortages of sulfuric acid and construction delays could impact production into 2025,” added Yahoo Finance. “Uranium produced by Kazatomprom accounted for 22 percent of primary global supply in 2022, the company says.”
That being said, there’s still time to jump into uranium-related stocks like Cameco Corp. (CCJ).