With nuclear energy industry looking brighter, uranium demand is expected to rise. According to the World Nuclear Association, the number of new nuclear plants due to go online this year and in the next three years is expected to total around 40, and more are planned in the years ahead, mostly in Asia, writes Lawrence Williams for Mineweb.
“But by far, the biggest reason to be bullish about uranium on the demand side has to do with China. In its five-year plan covering 2016 to 2020, China plans to spend $1 trillion to expand its atomic capacity to 250 gigawatts, which would account for 25 percent of the world’s nuclear power. To accomplish its goal, the country is investing $78 billion to construct seven new reactors a year for the next five years. By 2030 China plans to have 110 reactors in operation; it currently has 27,” according to OilPrice.com.
Global X Uranium ETF