After years of stagnant prices, a 37 per cent rally in prices for nuclear fuel uranium has helped attract investors back to the sector.
Funds such as Ben Melkman’s New York-based Light Sky Macro, Anchorage Capital and Tribeca Investment Partners have been positive on the outlook for the raw material, as a global energy crunch highlights the role of nuclear power in a transition away from fossil fuels.
The price of raw uranium, known as yellowcake, rose to its highest level since 2012 at $50 a pound last month. The move has attracted new investors into the market for the first time since before the financial crisis, when buying by investors drove the price from $20 a pound to a record high of $136 a pound in June 2007.
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