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Uranium producers took one on the chin in 2011 after governments around the world scrapped their nuclear plans in the wake of the reactor meltdown in Japan.
But the head of one uranium producer says the industry's future is beginning to turnaround. Amir Adnani, president, CEO, and co-founder, Uranium Energy tells BNN emerging economies led by China will continue with plans to expand their nuclear capacity.“The growth isn’t coming from the developed world. The growth and demand for energy is coming from the economies that are expanding the most rapidly.”
Adnani also says the uranium market is suffering from a lack of new supply, while the HEU (high-enriched uranium) agreement between the U.S. and Russia is set to expire next year. And with one fifth of the world still without electricity, he says the hunt is on by governments for secure, reliable and emission-free sources of energy.
“And nuclear power still possesses those qualities,” he says.