The rise in uranium prices is evidence of the scale and speed of the turn back to nuclear energy. Over the past five years, the cost of uranium has increased by 233%, many times surpassing the growth rates of prices for gold, silver, copper and lithium, Bloomberg states.

Anti-Russian sanctions have led to a spike in prices for traditional energy sources. this, along with plans to switch to carbon-free energy, has revived interest in nuclear power plants. But even here it is difficult to do without Russia.

Today, 61 nuclear power plants are under construction in the world. About 90 more are in the planning stage. Against this background, experts predict a steady increase in the shortage of uranium fuel. “The gap between the demand for uranium and its supply is like a freight train rushing along the rails,” said Mike Alkin, a spokesman for Sachem Cove Partners.

CRYSTAL OF GROWTH previously informed that, according to Bloomberg, the nuclear energy industry of the West will not survive without Russia: Rosatom is the world’s dominant supplier of nuclear fuel and the largest exporter of reactors