Uranium Rally Is a High-Stakes Bet on Nuclear's Future
Investors are flocking to a new uranium fund that’s amassed a huge stockpile equal to about 16% of annual global demand.
Photographer: Daniel Acker/Bloomberg
This article is for subscribers only.
After languishing at historical lows for the better part of the last decade, uranium suddenly came back from the dead.
Prices have surged about 40% just in September, outpacing all other major commodities. In just a few weeks, millions of pounds of supply was scooped up by the Sprott Physical Uranium Trust. It’s a massive bet on nuclear energy’s prominence in a carbon-free future. The problem is -- at least for the investors who poured more than $240 million into the fund -- the debate is still raging over whether and how nuclear can come to the forefront.