Guy Keller from Tribeca’s Nuclear Energy Opportunities Strategy recently joined CNBC to discuss key developments in uranium market trends and the broader nuclear energy sector. Some notable insights from the discussion:
- Supply concerns are mounting – Kazakhstan, which provides approximately 40% of the world’s uranium supply, is facing its own production challenges. Meanwhile, a significant portion of uranium sales continue to be directed toward Russia and China, raising questions about Western supply security.
- Demand continues to accelerate – 2024 was a pivotal year for nuclear energy investment, with momentum carrying into 2025. Governments worldwide have pledged to triple global nuclear capacity, yet uranium prices remain at levels that do not incentivize sufficient new supply.
- The risk of a supply crunch is increasing – The build-out of data centres, energy security policies, and decarbonization efforts are driving heightened interest in nuclear power. However, without an adjustment in uranium prices to reflect these dynamics, supply constraints could become more pronounced.
With nuclear energy at the centre of long-term energy policy discussions, the disconnect between uranium fundamentals and pricing will be critical to watch in the months ahead.