Uranium stocks rise as govts mull nuclear solution to carbon problem

The news: Australian uranium plays are among the ASX's top performers on Monday, as national governments look to nuclear power to cut carbon emissions.

The numbers: South Australian uranium miner Boss Energy was up 8.6% to $4.595 by lunchtime, while Perth-headquartered Paladin was up 3.7%.

France's energy minister says the nation needs six new planned nuclear reactors and a further 14 to cut fossil fuel dependence to 40% by 2035, Reuters reports. Britain meanwhile announced a 300 million pound ($568 million) program to produce advanced nuclear fuel in a market currently dominated by Russia.

The context: Both Britain and France were two of more than 20 nations that signed a COP28 climate summit pledge to triple nuclear capacity by 2050 to combat carbon emissions. France's government is set to debate the expansion of its nuclear energy program in parliament from late January, while Britain seeks to expand its capacity through small modular nuclear reactors (SMRs), which are are relatively affordable and easy to construct.