Shares in uranium miners soared more than 10 per cent on a report the US is eyeing a $US4.3 billion plan to shore up supply, further tightening the market.
Listed Australian uranium miners soared more than 10 per cent on a report the Biden administration is trying to win support for a $US4.3 billion plan to buy enriched uranium directly from domestic producers, tightening a supply deficit facing Western countries.
Russia supplies almost 10 per cent of the world’s uranium, which in countries such as France and the US is a major fuel for base load power generation. By mid-afternoon, share in the highest profile ASX-listed uranium player Paladin Energy were 12.8 per cent higher at 79.5¢. US energy secretary Jennifer Granholm last month said a “broad uranium strategy” was under development.Along with Bannerman, Mr Clark said his top picks in the space were Deep Yellow, which jumped 6.9 per cent to 77¢ on the report, and Silex Systems, which gained 6.7 per cent $1.60.
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