France will construct 14 more Nuclear Stations:
Uranium futures were trading above $48 per pound, a mark not seen in over four months, and closing on its highest level since September 2021 amid an upbeat global outlook for nuclear energy following the Russian invasion of Ukraine. The outbreak of war in eastern Europe and the impact of sanctions could reshape the energy transition debate, particularly in Europe, given the region's high dependency on Russian energy commodities. President Emmanuel Macron said that France would construct as many as fourteen new nuclear power to reduce its energy consumption while increasing its carbon-free energy production capacity. Germany is set to follow the trend into alternative and renewable energies and has already signalled that it might consider keeping its nuclear plants online. On the supply side, Cameco has announced plans to restart uranium production at McArthur River/Key Lake, idled since 2018, as the market strengthens.