US and European energy companies are at growing risk from a uranium supply crunch as demand surges for nuclear power to fuel everything from household electricity to data centres, industry figures have warned.
The threat of future shortages comes as the world’s biggest producer of the metal used to power nuclear reactors, Kazakhstan, sells more to Russia and China while less is going to the US and Europe.
“Russian and Chinese players have been very keen to secure access to resources in central Asia and Africa, creating a very aggressive competitive environment,” said Benjamin Godwin at Prism Strategic Intelligence.
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