Connect with us

Energy & Critical Metals

#Uranium #stocks Rise As #German Minister Sees #nuclear #power Plant Extension Increasingly Likely

Uranium Stocks Rise As German Minister Sees Nuclear Power Plant Extension Increasingly Likely

Uranium stocks advanced on Tuesday after Germany’s…

Share this article:

Published

on

This article was originally published by Zero Hedge

Uranium stocks advanced on Tuesday after Germany’s economy minister expects to extend the lifespan of the country’s last two nuclear power plants to prevent the risks of rolling blackouts in Europe’s largest economy this winter. 

“We are already in a place where the stress test says: It may be necessary to use nuclear power plants for grid security,” Economy Minister Robert Habeck said at a climate conference in Berlin, which Reuters quoted. 

Earlier this month, Chancellor Olaf Scholz’s ruling coalition approved measures to extend two of the country’s three remaining nuclear power plants through the end of this year and into next if needed, reversing planned shutdowns of the plants. 

The reversal comes as the historic energy crisis in Europe worsens by the week. Leaks in the Nord Stream pipelines may indicate Nord Stream 1 is indefinitely shuttered

Habeck said life extensions of the two nuclear plants are to reduce grid bottlenecks. 

“It’s not the amount of electricity, but the distribution of power in the grid,” he said, adding he was concerned by the decline of nuclear power from France. 

When asked if lifespan extensions of the two German nuclear plants looked possible, Habeck said: “It is certainly not less likely.”

Habeck’s comments generated bullish sentiment across uranium stocks. Global X Uranium ETF (URA) rose 5%, led by Western Uranium & Vanadium, Isoenergy, Energy Fuels, Global Atomic, Uranium Energy, and Forsys. 

Support for nuclear continues to gain momentum. And in Germany’s case, it could help with grid stability ahead of what’s expected to be a cold and dark winter. 

Remember we outlined in 2020: Buy Uranium: Is This The Beginning Of The Next ESG Craze

G7Hedge Tue, 09/27/2022 – 11:41

Share this article:

Energy & Critical Metals

Tesla To Suspend Shanghai Factory Output Later This Month, Reports Say

Tesla To Suspend Shanghai Factory Output Later This Month, Reports Say

Numerous reports surfaced Friday morning of Tesla "suspending" Model…

Share this article:

Continue Reading
Energy & Critical Metals

St George Mining and battery giant SVOLT to jointly explore lithium projects

The firms will also consider joint development of the Mt Alexander lithium project in Western Australia.
The post St George Mining and battery giant SVOLT…

Share this article:

Continue Reading
Energy & Critical Metals

Renewables/GOES MMI: Steel Plate Drops While Battery Metals Hold Strong

The December Renewables MMI (Monthly MetalMiner Index) traded sideways, practically in a straight line. Overall, metal prices within the index only dropped…

Share this article:

Continue Reading

Trending