After a decade-long bear market, uranium has suddenly turned into a raging bull in an otherwise dismal market for commodities. Uranium prices have surged 35 percent over the past 30 days to trade at $33.30/pound – a level they last touched four years ago – thanks to shutdowns of critical mines at Canada’s Cameco and Kazakhstan’s Kazatomprom , suppliers of more than half of the global uranium consumption. Bloomberg has quoted Cantor Fitzgerald as stating that the shutdowns have wiped out ~46 million pounds of uranium – good for 35 percent of annual global uranium output – over three weeks, in large part due to the coronavirus crisis. The rally comes at a time when the Trump administration appears hell-bent on reviving the country’s faltering uranium industry ostensibly in the pursuit of energy independence and also for national security purposes. But the third nuclear gold rush could be dead […]