Since the military coup in Niger, the price of uranium has seen a slight rise, with mining operations continuing in the world’s seventh-largest producer of the radioactive metal. The spot price of uranium increased to $56.25 a pound from $56.15 a week earlier, according to market research firm UxC. While the current increase is modest, experts predict a possible price hike in the coming weeks.
Niger, responsible for 4 percent of the world’s uranium supply, has drawn attention due to its political situation. The uranium market is already tight, and growing demand has pushed the spot price up by nearly 40 percent year to date. Europe, in particular, is keeping a close eye on developments in Niger.
Despite the recent events and France’s evacuation plans, mining operations in the country have continued, with French nuclear fuels company Orano stating that its operations are ongoing, relying heavily on local staff.
While the current price rise is moderate, the uranium market’s volatility and increasing demand could lead to more significant price fluctuations in the future.
Source : aljazeera.com