https://newsletter.mw.creamermedia.com
Energy|Nuclear|Power
Energy|Nuclear|Power
energy|nuclear|power

Primary uranium supply ‘way behind’ rapidly growing demand – Yellow Cake CEO

21st October 2024

By: Creamer Media Reporter

     

Font size: - +

London-listed Yellow Cake, a company focused on providing exposure to the uranium spot price, remains optimistic about medium-term sector fundamentals despite current subdued uranium prices.

In a company update on Monday, Yellow Cake CEO Andre Liebenberg highlighted a “fundamental global shortage” of uranium, driven by surging demand.

This demand stemmed not only from a growing recognition of nuclear power's role in the future energy mix, but also from its critical importance in supporting the AI boom and the development of hyperscale data centers, he said.

Liebenberg noted that primary mine supply of 140-million pounds was significantly trailing behind global demand of over 180-million pounds a year.

During the September quarter, the spot price of uranium fell by 4.4%, dropping from $85.50/lb to $81.75/lb by September 30. Consequently, the value of Yellow Cake’s uranium holdings decreased from $1.85-billion to $1.7-billion. The company's net asset value per share also fell by 10.1% during the quarter, reaching £6.17.

Yellow Cake’s uranium is stored at the Cameco facility in Canada and the Orano facility in France.

Edited by Creamer Media Reporter

Comments

Showroom

Willard
Willard

Rooted in the hearts of South Africans, combining technology and a quest for perfection to bring you a battery of peerless standing. Willard...

VISIT SHOWROOM 
VEGA Controls SA (Pty) Ltd
VEGA Controls SA (Pty) Ltd

For over 60 years, VEGA has provided industry-leading products for the measurement of level, density, weight and pressure. As the inventor of the...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 21 March 2025
Magazine round up | 21 March 2025
21st March 2025

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.037 0.115s - 143pq - 2rq
Subscribe Now