What's Driving Surging Uranium Demand?
Uranium demand is set to dramatically increase over the next 5 years as nuclear power gains momentum. What's driving this increasing demand? I think it's exactly what you said, increasing load growth.
One really interesting stat that I came across was in the month of July. It was the single largest use of electricity in the United States, I think, in history. Obviously, that is dictated by seasonal factors, but it is increasingly being acknowledged that things like AI data centers use large amounts of electricity.
Reshoring of a lot of manufacturing, all these things are contributing to much higher load growth, and I think that's where nuclear energy really comes into the story here because of the unique attributes that it provides to a grid, which are 24/7, 365 days a year base load power. That's really what the grid needs.
The grid needs stability to offset intermittency of renewable energy, and that's why I think there's a renewed interest, not just for grid stability, growing load growth, but for some countries, obviously, energy security and national security are a priority.
