In this session, we take a closer look at uranium, which is poised for significant demand growth and a potential bull market in 2021. Uranium is currently trading at a spot price of about US$30/lb – an increase in the pre COVID spot price of about $24/lb.
With the suspension of operations at uranium mines in 2020 and potential suspensions on the cards again this year as a result of the second coronavirus wave, this could drive the uranium price higher as long-term demand is set to continue.
While the uranium market has not been in the favour of producers for quite some time, the shorter-term fundamentals of a tighter market is starting to favour producers, which may bode well for the uranium price over the medium to long-term. A higher uranium price will enable companies with development assets to raise the necessary funding to build their mines.
This could see African uranium producers finally bring their notable assets into production on the back of the resurgence in this commodity.
In this webinar, our guests discussed the resurgence in the uranium market, the opportunity that this holds for Africa’s top uranium developers, the key considerations in unlocking these asset and the nuclear energy outlook and potential in Africa.
Key discussion points included:
- Uranium price environment and price predictions
- Insights from African uranium project developers
- Case studies from uranium juniors in Africa – latest updates
- The importance of uranium in the development of the African and global energy sectors
- Is now the time to invest in uranium?
Daniel Major, Chief Executive Officer | GoviEx Uranium
Brandon Munro, Chief Executive Officer | Bannerman Resources
Dr. Kelvin Kemm, Chief Executive Officer | Stratek
Laura Cornish, Editor-in-Chief | Mining Review Africa