In the wake of the COP21 climate meeting in Paris, which subtly endorsed nuclear power, and the aggressive move by China to build a nuclear plant a month, the supplies of uranium are once again in the spotlight. The price of uranium for fuel in nuclear reactors has had a complicated history over the last forty years. After the 2011 Tohoku tsunami and Fukushima reactor accidents, uranium prices dropped about 60%, bottoming out near $30/lb in mid-2014. By late 2013, all of Japan’s nuclear facilities were completely shut down. Other countries also closed nuclear power plants, including Germany and Switzerland. However, reliance on brown coal, and large-scale wind and solar systems, have neither met the climate needs of Germany, nor provided reasonable and stable electricity costs in Japan. But uranium prices are recovering and the outlook for the uranium market has brightened for several reasons.
Forbes 4th Jan 2015 read more »