Nuclear power companies are facing competition for supplies of uranium from financial investors, who are betting on sharply higher prices and demand for the radioactive material used to fuel reactors.
The price of raw uranium, known as yellowcake, has risen to its highest level since 2014, driven by a newly launched investment trust run by Canadian asset manager Sprott.
Investors are betting that nuclear power will be a key part of the move away from fossil fuels and that a lack of new uranium mines will mean the price has to move higher.
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