Investor Presentaiton
Uranium market update
December 2023
Japan (1)
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YELLOW CAKE PLC
On 27 December, the Nuclear Regulation Authority ("NRA") of Japan authorized fuel loading in Units 6 & 7 at the Kashiwazaki-Kariwa nuclear
power plant located in Niigata prefecture. Unit-6 (1,315 Mwe) entered commercial operation in January 1996 following by Unit 7 (1,315 Mwe)
which became operational in December 1996. Both units are Advanced Boiling Water Reactor designs
The massive Kashiwazaki facility, owned and operated by Tokyo Electric Power Company (TEPCO), with a capacity of 8,212 Mwe, has been offline
since 2012 following the Fukushima nuclear accident in March 2011
The U.S.(2)
On 11 December 2023, the U.S. House of Representatives passed the "Prohibiting Russian Uranium Imports Act (H.R. 1042). If enacted, the bill
would ban Russian uranium imports 90 days after enactment, but would allow individual utilities to request a waiver from the USDOE if there are
no other viable fuel sources available to support the operation of a specific nuclear reactor or nuclear company. A companion bill (S. 763) must
now be passed by the U.S. Senate before the legislation can be signed into law by President Biden
UxC Highlights for 2023 (3)
UxC, a leading nuclear fuel industry consulting and price reporting firm, published it's "Top Ten Stories of 2023" on 18 December. In order of
importance, these stories were as follows:
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Uranium Spot Price Surges into the $80s
Utility Contracting Activity Rises Appreciably
Metropolis Restarts, but Conversion Supply Gets Even Tighter
Western enrichers Take First Steps Towards Capacity Expansions
Open Market Continues to Shift Away from Russia
" SMRS Make Further Inroads
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Uranium Production Recovering, but New Mines Remain Elusive
Government Fall in Love with Nuclear Again
Fuel Inventories Become Critical for Last Resort Supplies
The Public and Thought Leaders See Nuclear in a New Light
Sources:
World Nuclear News; "NRA lifts ban on Kashiwazaki-Kariwa fuel activities"; 2 January 2024
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2)
H.R. 1042-118th Congress (2023-2024); 11 December 2023
UxC; "Top Ten Stories of 2023"; 18 December 2023View entire presentation