NexGen Energy well positioned to benefit from uranium price increase

The COVID-19 pandemic continues to negatively impact commodity markets, with prices for metals such as copper, zinc, lead, aluminium and many others […]
The COVID-19 pandemic continues to negatively impact commodity markets, with prices for metals such as copper, zinc, lead, aluminium and many others falling rapidly since the shuttering of mines and disruption to supply chains around the world. One metal, however, is defiantly bucking the trend. The spot price for uranium oxide in the past few weeks has risen by 14% to over US$27 per lb., ending a long period locked between US$24 to US$26 per pound. “On the supply side, several main production centres have either closed, are reaching the end of their lives or are starting to hit lower grade ores at their mines, pushing up spot prices for uranium,” Leigh Curyer, CEO of NexGen Energy (TSX: NXE; NYSE:NXE), said in a telephone interview. “Also, the higher consumption of nuclear power, which has been growing by around 1% to 2% per year over the last few years, is also putting upward pressure on prices.”
Continue reading at The Northern Miner.  

Comments

Your email address will not be published. Required fields are marked *

Mar 27 2024 - Mar 28 2024
Apr 08 2024 - Apr 09 2024
Apr 15 2024 - Apr 16 2024
Apr 16 2024 - Apr 16 2024