16:34 - 16.12.2025

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December 16, Fineko/abc.az. The growing interest in artificial intelligence has increased the demand for uranium fuel for nuclear power plants.

ABC.AZ informs that prices for fuel uranium have risen up to an almost 20-year high, and by 2040, market needs could double to 150,000 tons a year.

Earlier, the decline in interest in nuclear energy slowed down the development of new deposits, and in the coming years many existing mines will be depleted. Now rising prices create incentives for exploration and increased production. Long-term contracts are priced at $86 per pound, above spot prices ($75.85) and at the highest level since 2008.

Uranium accounts for only about 20% of the costs of nuclear power plants, but its rise in price attracts investors to relevant companies.