Top 5 Most-popular Uranium Stories of 2024
As the year closes, we’re taking a look back at our most popular uranium news articles of 2024.
The uranium sector has been on a rollercoaster in 2024, a year that saw the uranium price break above US$100 per pound.
Countries concerned with the metal, especially the United States, China and Russia, were the drivers of some of the biggest uranium news items in 2024. News of a major acquisition also made the cut as one of the year’s biggest uranium headlines.
Read on for the list of our top five uranium stories of 2024, including updates on what has happened since.
1. Biden Signs Bill Banning Russian Uranium Imports, Restrictions to Begin in 90 Days
Among the biggest uranium news during the first half of 2024 is the United States’ Prohibiting Russian Uranium Imports Act, which was signed into law by US President Joe Biden on May 13 after it received unanimous approval in the Senate on April 30.
The act, which took effect on August 11, ended the country’s three-decade dependence on Russian uranium.
The US said that it is focused on American uranium production and enrichment. Centrus Energy (NYSEAMERICAN:LEU), the country’s biggest trader of enriched uranium from Russia, is also producing high-assay low-enriched uranium (HALEU) at the American Centrifuge Plant in Piketon, Ohio.
The Piketon demonstration project has reportedly enriched more than 100 kilograms of HALEU and is expected to ramp up production to 900 kilograms in the coming years.
Under the new law, the Department of Energy (DOE) is allowed to issue waivers authorizing Russian uranium imports according to limits established in an anti-dumping agreement. This usually is for cases where buyers are not able to find an alternative option.
The statute is set to expire at the end of 2040.
2. China Approves 11 Nuclear Reactors in US$31 Billion Green Energy Investment
China made headlines when it announced its approval of 11 nuclear reactors across five major areas: Jiangsu, Shandong, Guangdong, Zhejiang and Guangxi.
State-owned entities China National Nuclear (CNNC) and China General Nuclear Power Group (CGN) were assigned to oversee the construction of the majority of these projects.
According to China, the construction of these reactors forms part of its broader strategy to significantly increase its nuclear power capacity by 2035.
The country’s nuclear power capacity can cover about 5 percent of its electricity demand right now, and it plans to double this to 10 percent by 2035, coinciding with a massive expansion in wind and solar projects.
December 2024 statistics from the World Nuclear Association show that 65 reactors are under construction across the world, 29 of which are in China, with 90 more being planned globally.
3. Russia Restricts US Uranium Exports, Retaliating to American Ban
As a response to the US’ ban on Russian uranium imports, Russia announced its temporary restrictions on enriched uranium…
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