The world needs uranium. Now more than ever. The global uranium market is currently facing rising demand and shrinking supply at the same time. However, rising commodity prices also mean that the uranium market is currently more lucrative than ever.
Meanwhile, Global Uranium Corp. is moving forward with its exploration efforts for uranium deposits in North America. These are the latest developments at uranium exploration pioneer Global Uranium Corp.
The global market for uranium is booming
The raw material uranium is currently in high demand on the world market. It is an indispensable part of the nuclear meltdown and thus integral to the production of reliable and clean nuclear energy.
Recently, tech giants such as Google and Amazon repeatedly emphasised that they plan to generate a significant portion of their energy from nuclear power in the future. The background to this is a growing demand for energy from AI applications, which can only be met reliably and in an environmentally friendly way using nuclear energy.
In November 2024, Google got down to business and ordered a series of Small Modular Reactors (SMRs) from the manufacturer Kairos Power. The first of these reactors is expected to be connected to the grid in just five years, providing the tech giant with safe, efficient and clean nuclear energy.
These developments give reason to believe that the demand for uranium will grow considerably in the coming years. However, uranium production is at risk of not keeping pace with this increase.
To date, Russia is considered one of the largest suppliers of uranium on the world market. According to the World Nuclear Association, Russia was the sixth largest uranium producer in the world in 2018. This is unlikely to have changed much to date.
However, since the invasion of Ukraine, Russian uranium has been subject to strict sanctions that, for example, prohibit the export of the valuable raw material to the United States, which previously imported a large proportion of uranium from Russia. This incursion into the uranium market significantly reduces supply in the US market.
In addition, uranium mines elsewhere are generating deficits. Production volumes in Canada, Niger, South Africa, Ukraine and the USA recently declined, according to data from the World Nuclear Association.
This is particularly worrying when you consider the data from the Nuclear Fuel Report, which predicts that demand for uranium will increase by a whopping 28% by 2030 alone.
Some relief may come from Global Uranium Corp.’s exploration efforts in North America.
Global Uranium Corp.’s exploration and extraction efforts in North America
Global Uranium Corp. is engaged in the exploration of uranium in North America.
The public company is led by a diverse group of professionals including Mr. Ungad Chadda, former President of the Toronto Stock Exchange, Dr. Jared Suchan, a professional geoscientist with a decade of experience in mineral exploration, and Mr. Foster Wilson, a consultant with over 40 years of experience in the industry.
Global Uranium Corp. is confident that it will achieve significant success in its uranium exploration efforts in Canada and the United States in the coming years and has a vision of supporting the global uranium market in this way. Integral to the activities of Global Uranium Corp. are the following projects: the Northwest Athabasca Joint Venture Project in Saskatchewan, Canada, and the WAC, Jabs, Big Bend, Jeep South, and Airline #2 Projects in Wyoming, USA.
Global Uranium Corp. in Canada – uranium deposits in Athabasca
Traditionally, Canada is considered a major producer of uranium deposits. After a significant decline in productivity in recent years, the development of new deposits should supply new uranium to the world market.
Global Uranium Corp. is directly involved in the North West Athabasca Joint Venture in Canada’s Athabasca region. The exploration work in this joint venture is being carried out in collaboration with other leading mining companies such as Cameco Corp., Orano and NexGen. Global Uranium Corp. holds 61% of the shares in the joint venture. The collaboration with some of the largest mining companies in the world represents a great opportunity for Global Uranium Corp., which is itself considered a junior player in the field.
The Northwest Athabasca Project covers almost 14,000 hectares in the Athabasca Basin, where the company and its JV partner Forum Energy plan to drill several wells in the near future. The aim of the drilling is to confirm suspected uranium deposits.
A camp for workers will be set up in the Athabasca region in connection with the drilling. In addition, the company plans to conduct further geophysical studies to gain a better understanding of where uranium is more likely to occur.
Global Uranium Corp. in the USA – uranium deposits in Wyoming
The United States has traditionally been considered another powerhouse of uranium production alongside Canada, but in recent years it has also had to cope with less productive production. The state of Wyoming, which has the largest uranium reserves in the country, is the beacon of hope for future uranium production in the United States.
Global Uranium Corp. is active in the US state of Wyoming through its Wyoming Project Group. These assets cover a total of three areas: the Great Divide Basin, the Gas Hills and the Copper Mountain. In total, these projects cover an area of over 5,000 hectares of land. Similar to the efforts in neighbouring Canada, the Wyoming projects are still in their early stages.
Conclusion
If you are an investor looking to capitalise on uranium, keep a close eye on Global Uranium Corp. in the near future. A diverse portfolio, strategic partnerships and imminent drilling in the Athabasca Basin put Global Uranium Corp. on track to make an impact in Canadian and US uranium exploration.
Although still in the early stages, historical data in and around these projects show indicators of uranium deposits. Should Global Uranium Corp. be able to advance these projects, the company could become a key player in uranium exploration in North America.
Disclaimer of Forward-Looking Information
This document contains statements and information that, to the extent they are not historical facts, constitute ‘forward-looking information’ within the meaning of applicable securities laws.
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