Uranium week: COP26 puts nuclear power in the spotlight


Weekly reports | 10:04 am

As the weekly spot uranium price rose 4% last week, attention is now turning to the Net Zero summit at COP26.

– Nuclear power in the spotlight as countries prepare for the COP26 United Nations Conference
– Bannerman Energy, listed on ASX, receives renewed environmental authorization
-Deep Yellow, listed on ASX, intercepts significant mineralization
-The spot price of uranium increases by 4% for the week

By Mark Woodruff

Announcements from a number of world leaders leading to the Conference of the Parties to the United Nations Framework Convention on Climate Change or the COP26 Net Zero Summit recognized the important role nuclear will have in helping global decarbonization efforts.

While the nuclear industry will not have a formal presence in the green zone at COP26, global wealth manager Canaccord Genuity sees a substantial upside risk to its internal uranium demand forecasts.

Media reports Great Britain suggest the government is about to unveil funding for a proposal to develop 16 new Small Modular Reactors (SMRs) in conjunction with Rolls-Royce. Canaccord Genuity believes Prime Minister Boris Johnson is keen to rebuild the country’s nuclear energy commitment ahead of COP26, especially in light of the recent rise in electricity and gas prices.

About 20% of the UK’s electricity comes from nuclear, and half of the country’s reactors will potentially be phased out by 2025.

meanwhile at France, where 70% of electricity is produced by nuclear power, President Macron recently announced an investment of US $ 1.16 billion for the development of new SMRs. According to the Energy Information Administration (EIA) in the United States, “a kilowatt of energy that you produce in France is six times less carbon intensive than the equivalent in Germany”.

Speaking of Germany, a set of 25 prominent public figures recently launched a campaign for the country to change course and reverse a plan to shut down all of its nuclear power plants. The group says Germany risks missing its climate targets if the “2022 nuclear phase-out plan” is implemented.

Canaccord Genuity also notes JapanThe target of reducing carbon emissions by -46% by 2030 involves restarting 30 nuclear reactors. These hypotheses were described by Akira Amari, general secretary of the Liberal Democratic Party. The party is also pushing for SMRs.

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