Moreover, a deal between the U.S. and Russia on recycling uranium from Soviet-era nuclear weapons is set to expire, removing around 24 million pounds of the metal from the market.

“Demand continues to rise at about three per cent a year,” David Sadowski of Raymond James Ltd., said in the Edmonton Journal. “Down the road, we’re looking at a supply shortfall because supply just can’t rise at that rate. So that’s really been our underlying thesis.”

Global X Uranium ETF

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