Miners in the United States and other uranium-rich regions are reopening abandoned sites to meet the growing demand for nuclear fuel, a trend highlighted by Bloomberg. The coverage notes that several American firms are resuming activities at former mines across Wyoming, Texas, Arizona, and Utah. These states once hosted robust uranium production until the Fukushima disaster in 2011, an event that accelerated Germany and Japan’s nuclear phaseouts and pushed uranium prices downward. Germany finished closing its remaining reactors last year, signaling a broader shift in energy strategy.
Industry players such as Ur-Energy and Energy Fuels in the United States, along with Sprott Physical Uranium Trust in Canada, are planning to restart production at legacy mines and expand output as markets rebound. The renewed interest comes amid evolving geopolitical and energy security considerations that influence supplier choices and strategic reserves.
Statements from industry observers and officials note that Europe and the United States have mostly avoided sanctions on Rosatom, the Russian state nuclear energy company, despite ongoing tensions. Analysts point to concerns in the European Union and the United States about Russia remaining a dominant supplier of enriched uranium for nuclear reactors.
In 2023, the United States reportedly purchased a record amount of uranium from Russia, totaling about 1.2 billion dollars, underscoring the intertwined nature of global supply chains and the balancing act between energy needs and geopolitical risk.
Rosatom has commented on efforts related to protecting facilities such as Zaporizhzhia Nuclear Power Plant, highlighting ongoing discussions about safety, security, and international oversight in the sector. [Bloomberg] [Le Figaro] [other cited sources] The broader narrative examines how a mix of market recovery, regulatory environments, and strategic investments is shaping the uranium landscape as nations reassess their energy portfolios.