News

Marenica Energy readies for rising uranium demand

February 9, 2021

Marenica Energy readies for rising uranium demand

Australian uranium explorer Marenica Energy (ASX: MEY) is priming itself for an expected increase in uranium prices as the supply deficit worsens.

Australian uranium explorer Marenica Energy (ASX: MEY) is priming itself for an expected increase in uranium prices as the supply deficit worsens.

Speaking at Mines and Money’s 5@5 webinar, Marenica Managing Director and CEO Murray Hill said supply of the yellow metal is being squeezed.

 

“We’re seeing unprecedented supply deficit levels due to the impact of COVID, and also the low uranium price over a prolonged period of time,” he said.

 

“There’s operations going into care and maintenance and some not coming out because of COVID and also because of the low uranium price, but the demand for uranium continues to grow.

But with roughly 54 new nuclear reactors currently under construction, Mr Hill expects demand will keep increasing – and the only way to incentivise further uranium production will be through higher prices.

You can hear Mr Hill’s comments on uranium supply and demand factors, Namibia’s position as a uranium leader, and Marenica Energy’s counter-cyclical business strategy in the Mines and Money 5@5 African Mining Opportunities webinar below.

To stay up to date with the latest MEY company news and announcements register your details on their investor centre.

Reach Markets have been engaged by MEY to help manage their investor communications.

 


General Advice Warning

Any advice provided by Reach Markets including on its website and by its representatives is general advice only and does not consider your objectives, financial situation or needs, and you should consider whether it is appropriate for you. This might mean that you need to seek personal advice from a representative authorised to provide personal advice. If you are thinking about acquiring a financial product, you should consider our Financial Services Guide (FSG) including the Privacy Statement and any relevant Product Disclosure Statement or Prospectus (if one is available) to understand the features, risks and returns associated with the investment.

Please click here to read our full warning.

Lombok Property Group

Ideal opportunity for investors in a growing property and tourism market

Leave a comment