Uranium prices hit 12-year high to reach $60 per pound

Uranium prices have jumped about $60 per pound on Friday to record the highest level since 2011, underlining a global renaissance in nuclear power as utilities race to lock in fuel supplies.

The uranium has become a hot topic for investors, policymakers, and energy enthusiasts. The world is evolving, and as technology advances, the need for efficient energy sources becomes principle.

The World Nuclear Association (WNA) predicts world reactor requirements for uranium to surge to almost 130,000 tons (~285 million pounds) in 2040. That’s up from an estimate of 65,650 tons in 2023, WNA biennial report mentioned.