Uranium fundamentals are pointing emphatically towards higher prices with Canadian uranium supplier Cameco positioned to benefit from the growing support for nuclear energy as governments and business recognise the need for reliable baseload power to meet net zero goals.

Jeff Hryhoriw, Cameco’s director of government relations and communications, told NucNet there is growing recognition that nuclear power needs to play a big role in the global “mega-trend” focused on increasing electrification while at the same time phasing out carbon-intensive sources of energy.

“This trend is increasing the certainty of demand for nuclear power with a durability that we have not seen before,” he said. “In a world where 85% of our electricity still comes from fossil fuel sources, there is no clear pathway to sustainably achieve both electrification and decarbonisation while maintaining a stable electricity grid without nuclear energy, powered by uranium, in the toolbox.”