Uranium Rises to 17-Month High
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Uranium futures have surged to over $85 per pound, marking a 17-month high, driven by increased demand and fresh investments from physical funds. The US has relaxed regulations for uranium converters and announced new power plant projects, including a partnership with Cameco for Westinghouse reactors. Additionally, $2.7 billion in contracts were awarded to Centrus and other companies to mitigate supply issues from Russia. The trend is supported by government initiatives to enhance energy security and investments in power-intensive datacenters, with Sprott's fund increasing its uranium holdings by 100,000 pounds.
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