Uranium miners hope for an Australian nuclear future
Uranium stocks had a strong week on the ASX as nuclear enters the energy debate abroad — and increasingly, in Australia.
Nuclear energy has long been the elephant in the room of Australia's debate over the energy transition and grid stability.
Once dismissed as too risky and too expensive, nuclear power's fortunes appear to finally be changing, with the Coalition increasingly looking like taking a nuclear energy policy to the next federal election.
While the federal government has been firm in its rejection of the idea, there is growing momentum overseas. A wave of small modular reactors (SMRs) are popping up across the United States and Europe, with some already in operation in China and Russia.
The growing appetite for nuclear power prompted the World Nuclear Association (WNA) on Thursday to project uranium demand would double by 2040, pushing prices to their highest point since 2011.
