After the 2011 Fukushima disaster, the uranium price fell nearly 90% from its peak and then stayed "dead" for almost a decade. Mines around the world shut down; no one dared invest in new ones. But now the world is racing to build nuclear power plants again to feed AI — and a harsh truth is surfacing: mines can't dig fast enough, and building a new one takes 10–15 years. This is the story of a strategic mineral whose demand is running faster than supply, creating a "structural deficit."
Eagle Plains Reports Anomalous Radioactivity at Don Lake Uranium Project
Eagle Plains Resources Ltd. and partner Xcite Uranium Inc. reported additional drilling results from the Don Lake uranium project near Uranium City, Saskatchewan, where the B Zone and C Zone targets intersected multiple zones of anomalous radioactivity. The 1106m, 10-hole program, contracted to Apex Drilling, tested for structurally-controlled uranium mineralization defined by historical work and the 2025-2026 field programs. Highlights included DN26005 with 1.3m averaging 2898 cps, DN26006 with 5.5m averaging 2656 cps, DN26008 with 0.7m averaging 10403 cps, and DN26009 with 0.6m averaging 12473 cps. The first three holes at Don Lake in 2026, completed in the A Zone area, also intersected anomalous radioactivity, including DN26001 with 1.9m averaging 11571 cps, DN26002 with 1.1m averaging 11753 cps, and DN26003 with 1.2m averaging 2700 cps. Geochemical assays of drill core samples are pending, and the approved 2026 budget for Don Lake is approximately $1.1 million, consisting of $200,000 in completed fieldwork and $900,000 allocated for drilling, with all work managed by TerraLogic Exploration Inc. Under a December 2023 agreement, Xcite holds the exclusive right to earn up to an 80% interest in the Don Lake, Gulch, Lorado, Beaver River, Black Bay, and Smitty projects, which cover 54 Saskatchewan Mineral Deposit Index occurrences and five past-producing uranium mines and are 100% owned by Eagle Plains.
EU Opens Door to Canada as First Associate Member, Aiming to Deepen Tech, Defense and Energy Cooperation
Ursula von der Leyen, President of the European Commission, announced on September 16 that the European Union is opening the door to welcoming Canada as the bloc's first associate member, a new cooperation framework never before specified in EU treaties. Speaking during her annual policy address to the European Parliament in Strasbourg, France, she said the two sides will cooperate comprehensively across areas ranging from smart manufacturing, critical strategic minerals and energy to AI, and will establish a technology alliance, integrate their defense industrial bases, and push to make the Arctic region a flagship cooperation project. The EC President stressed that this partnership is not aimed against anyone else, while many observers see it as Europe's effort to avoid confrontation with U.S. President Donald Trump. The move marks a major policy shift for the EU, which has in the past generally rejected flexible membership categories, with most EU member states still reserving judgment on Germany's May proposal to grant Ukraine associate member status as a path toward full membership. Canadian Prime Minister Mark Carney said earlier this week that Canada is seeking a unique partnership with the EU but does not want full membership. The EC President has invited Prime Minister Carney to a meeting in Strasbourg, and the Canadian leader is scheduled to deliver a speech on Thursday, September 17, following a historic rupture in Canada-U.S. relations caused by failed trade negotiations last month that led to tit-for-tat tariff measures.
Canada Seeks Investment in More Than 160 Projects Amid Trade War With US
Canadian Prime Minister Carney is aiming to attract investment in more than 160 projects as a key to weathering the trade war with the United States. According to the Prime Minister's Office, Carney, a former Goldman Sachs executive, held one-on-one meetings on the 14th with BlackRock CEO Larry Fink and Blackstone President Jon Gray, among others. According to government sources, the summit, mainly to be held on the 15th, will feature discussions on future investment, but it could take 12 to 18 months before large-scale deals materialize. Carney has pledged to attract 1 trillion Canadian dollars, or 721 billion US dollars, in investment over the next five years through deregulation and the promotion of mining, energy, technology, and infrastructure projects. At a welcome reception on the 13th, Carney said that some of the world's largest investors, who manage more than 120 trillion Canadian dollars in assets, are now looking at Canada differently than before.
TD launches $150B five-year plan to accelerate Canadian investment
Toronto-Dominion Bank launched a five-year, $150B commitment to accelerate investment, growth, and innovation across sectors critical to Canada's economy. The commitment will support new lending, underwriting, advisory, and other financing activities across five key areas: energy, critical minerals and resources, defence and aerospace, digital and AI, and infrastructure. TD will also focus on supporting small and mid-sized businesses, Indigenous economic participation, sustainable growth, workforce readiness and AI enablement.
Canada launches flagship investment summit, aiming to attract 720 billion US dollars over 5 years
Canadian Prime Minister Mark Carney announced that a new consensus on economic reform and future direction has taken hold across the country, ahead of the first-ever Canada Investment Summit, to be held in Toronto on September 14-15. The event aims to draw a total of 1 trillion Canadian dollars, or 720 billion US dollars, in investment over the next five years. The summit will present Canada's Deal Book, which compiles major projects in the energy, strategic minerals, advanced technology, and large-scale infrastructure sectors, in order to connect global capital with Canada's major projects, strengthen domestic supply chains, raise productivity, and reduce economic dependence on the United States. Carney told leading business figures that Canada is taking control of its own economic future, and will build more, trade more with one another, and trade more with the world.
BMO to Mobilize Up to $70 Billion for Critical Canadian Sectors Over 10 Years
BMO announced it plans to mobilize up to $70 billion in new capital over 10 years for sectors critical to Canada's economic security and resilience. The commitment, described by the bank as Canada's first, targets electricity infrastructure including generation, transmission and distribution, energy infrastructure such as pipelines, transportation infrastructure including roads, airports and terminals, mining and critical minerals, AI computing, defence and security, and oil and gas. Chief Executive Officer Darryl White said the initiative builds on more than 200 years of financing Canadian growth, dating to 1817, and that the opportunities in these sectors represent the latest chapter in that story. The capital is expected to take the form of bank financing, debt capital markets activity and the raising of public equity, and reflects expected demand from initiatives proposed to Canada's Major Projects Office, projects supporting Canada's National Electricity Strategy, the Trilateral MOU among the Federal Government, the Province of Alberta and the Oil Sands Alliance, Canadian Sovereign AI initiatives, and proprietary BMO analysis for the defence and oil and gas sectors. BMO said it authorized nearly $300 billion in lending to over 270,000 Canadian businesses and organizations in 2025, invested approximately $3.4 billion in Canadian companies and innovation ecosystems, and has more than 30,000 employees across Canada.
Green Canada Uranium Mobilizes Drill to Marshall Project in Athabasca Basin
Green Canada Uranium Corp. has mobilized a drill to its 100% owned Marshall property in the Athabasca Basin, Saskatchewan, where it plans two drill holes to test geophysical targets for unconformity-style uranium deposits. The 11,225-hectare property is located 30 kilometres on trend to the southwest of Canalaska's West McArthur Pike Zone discovery and near major deposits including Cameco's McArthur River mine and Millennium deposit, as well as Denison's Phoenix ISR and Gryphon underground development. Executive Chairman Rick Mazur said the company is in "elephant country" where many more deposits remain to be found. Green Canada also holds 100% interest in the Cree Lake project and has an exclusive option to earn up to 51% interest in the North Millennium project, a joint venture between Basin Energy and Canalaska Uranium.
EU invests €530 million in Greenland to counter US influence
The European Union (EU) has announced a significant increase in investment in Greenland, signaling clear geopolitical competition in the Arctic region. The EU is preparing investments of around €200 million for 2026-2027 and has proposed expanding its long-term budget to as much as €530 million for 2028-2034, a dramatic increase. The focus of investment is shifting from fisheries and education to strategic industries such as critical minerals, renewable energy, digital infrastructure, and satellites. This move comes after Donald Trump pushed for the US to take control of Greenland, citing security reasons, which was firmly rejected by both Greenland and Denmark. The visit of the European Commission President to Greenland is therefore a political message that Europe stands ready to support Greenland in maintaining the balance of power in the region. This investment helps reduce dependence on minerals from China and strengthens Europe's technology supply chain security. Meanwhile, global warming is causing ice to melt, opening new shipping routes and access to rare earths beneath the ice sheet, which are essential for producing EV batteries, wind turbines, and computer chips. Greenland's Prime Minister has welcomed cooperation with the EU to bring in funds for infrastructure development, improving quality of life, and strengthening the economy.
enCore Energy's Uranium Sales Cost More Than They Earn
enCore Energy reported first-half 2026 results showing increased uranium deliveries at higher prices, yet its net loss per share widened to $0.19 from $0.16. The company delivered 485,000 pounds of U3O8 at an average price of $70.10 per pound, up from 350,000 pounds at $62.58 a year earlier, but extraction fell to 131,274 pounds from 317,613 pounds, and the weighted average cost of delivered uranium rose to $75.54 per pound, exceeding the sales price. enCore attributed the wider loss to lower extraction and a fair value adjustment on its Verdera Energy Corp shares. The company is advancing new wellfields, including the Dewey Burdock project in South Dakota, which received a 20-year license renewal, and expects final permits for Alta Mesa Wellfield 3 Extension and Upper Spring Creek in the fourth quarter of 2026. However, Alta Mesa's Wellfield 7 will stop production in the third quarter due to depletion, and hedge fund ownership fell to 10 funds from 13, with short interest at 20.05% of the float.
Japan and U.S. advance $550 billion investment pact with AI and chips in focus
Japan is making progress on a $550 billion investment initiative with the United States, with artificial intelligence and semiconductor projects expected to play a central role in the next phase of the agreement, Bloomberg reported on Friday. Trade Minister Ryosei Akazawa said the two countries will continue working closely to implement the investment vehicle, following meetings in Washington with U.S. Commerce Secretary Howard Lutnick and U.S. Trade Representative Jamieson Greer. Akazawa declined to provide details on a third tranche of projects under the pact, but said discussions surrounding AI and chips will carry "very significant weight" as both governments prioritize investments that deliver mutual economic benefits. The $550 billion fund was established as a key pillar of last year's U.S.-Japan trade agreement, under which the Trump administration agreed to cap tariffs on Japanese goods at 15% and reduce duties on automobiles. The first round of projects committed $36 billion to U.S. oil, gas and critical minerals, including a natural gas facility in Ohio, while a second package added $73 billion for nuclear power projects in Tennessee and Alabama, alongside natural gas power plants in Pennsylvania and Texas. Akazawa also said both sides confirmed that no additional tariffs would be imposed on Japan beyond the terms of last year's agreement, providing greater certainty for Japanese manufacturers and investors.
Energy Fuels reported a wider net loss of $33.4 million, or 13 cents per share, for the second quarter of 2026, compared with a loss of $21.8 million, or 10 cents per share, a year earlier, as higher operating expenses and costs tied to its expansion initiatives weighed on profitability. Revenues surged 496% year over year to $25.1 million, driven by higher uranium sales volumes and realized prices, but costs applicable to revenues jumped 192% to $10.7 million, and selling, general and administrative expenses rose 30% to $19.2 million. The company also incurred $10.7 million in transaction and integration-related costs during the quarter, primarily associated with its planned acquisitions and strategic expansion initiatives. For the first six months of 2026, Energy Fuels reported a net loss of $44.6 million, narrower than the $48.2 million loss in the prior-year period. As of June 30, 2026, the company held $58.4 million in cash and cash equivalents and $878.3 million in current marketable securities, along with approximately 1,640,000 pounds of uranium and 905,000 pounds of vanadium finished goods inventory. The widening loss underscores the financial challenges of simultaneously expanding uranium production and building a broader rare earth supply chain, while peers like Cameco and MP Materials also face pressures, with Cameco's adjusted earnings down 75% and MP Materials reporting an improved adjusted loss of one cent per share.
BWXT wins $4M contract for NNSA lithium facility design
BWX Technologies has been awarded a $4 million contract by the U.S. National Nuclear Security Administration to develop a conceptual design for the first module of a new Lithium Processing Facility at the Y-12 National Security Complex. The four-month first phase will cover the Machining and Inspection Module, which is one of several modules planned for the facility. NNSA intends to select one of two companies for the next design phase and potential construction contract. The new facility is meant to replace aging infrastructure used for lithium reprocessing, supporting purification, component production, and other nuclear security activities.
Jefferies Starts Uranium Energy at Hold with $11.50 Target
Uranium Energy rose 0.60% premarket after Jefferies initiated coverage with a Hold rating and an $11.50 price target, below the $11.62 trading price, following a nearly 15% decline over the past week. Jefferies estimates the stock is about 10% above its risk-adjusted fair value. The firm highlights Uranium Energy's exposure to US uranium re-shoring, with roughly 12 million pounds of annual licensed capacity and about 330 million pounds of resources, making it the country's largest uranium company. It restarted production in Wyoming and Texas, marking the first US greenfield in-situ recovery mine in over a decade. Uranium Energy's unhedged, spot-only strategy exposes it to a thin and volatile spot market, and it reported a fiscal third-quarter loss of $0.11 per share against expectations of $0.03, citing production delays and higher unit costs. H.C. Wainwright maintains a Buy rating with a $26.75 price target.
Skyharbour Files NI 43-101 Reports for Moore and Russell Lake Projects
Skyharbour Resources Ltd. has filed independent NI 43-101 technical reports for its co-flagship Moore and Russell Lake uranium projects in Saskatchewan, a step toward a potential uplisting to the Nasdaq Capital Market. The reports, prepared by John Shmyr of Dahrouge Geological Consulting Ltd., detail historical and recent exploration but include no mineral resource estimates, as both properties are at the exploration stage. Skyharbour, which holds a 100% interest in Moore and advances Russell Lake with Denison Mines, aims to support its Annual Information Form and Nasdaq listing application, though completion is not assured. The company's broader portfolio includes joint ventures with Denison and Orano, with potential partner-funded expenditures exceeding $79 million.
Jefferies flags critical mineral bottlenecks as electrification demand grows
Jefferies initiated coverage of several advanced materials and energy-efficiency companies, naming Element Solutions and Almonty Industries as top Buy-rated picks, with IperionX and Materion also rated Buy, while NioCorp Developments, Fireweed Metals Corp, and Standard Lithium received Hold ratings. Analyst Laurence Alexander argued that electrification, AI, and rising defense and space investment are creating durable demand but also supply bottlenecks across critical minerals. The firm estimates energy investment requirements of $65 trillion to $250 trillion depending on policy, and predicts "spasmodic bottlenecks" including fly-ups in rare earth processing in 2028-32, lithium conversion in 2027-30, nuclear enrichment in 2035-40, and grid transformers in 2034-42. These bottlenecks are relatively small compared to the broader transition, with nuclear enrichment requiring about $2 trillion, lithium about $0.5 trillion, and rare earths about $0.3 trillion. Jefferies recommends favoring companies with improving returns on invested capital and margins, a strategy that has generated a compound annual return above 15% since 1999.
Americas Uranium to Acquire Treeline Uranium Project in New Mexico
Americas Uranium Corp. has entered into a Mineral Property Purchase Agreement to acquire a 100% interest in the Treeline uranium property in New Mexico from Verdera Energy Corp. and its subsidiary NM Energy Holding Corp. The deal includes a US$100,000 cash payment and C$2,000,000 in common shares, with 90% of the share consideration paid in staged issuances over 36 months. The property hosts a historical estimate of approximately 1.02 million pounds of U3O8, though this estimate predates current NI 43-101 standards and requires further work to verify. The acquisition aligns with the company's strategy to build a North American uranium portfolio amid rising U.S. nuclear energy ambitions, including a policy goal to expand nuclear capacity to 400 gigawatts by 2050. Closing is subject to regulatory approvals, including from the Canadian Securities Exchange.
Paladin Energy Reports New High-Grade Results at PLS Project
Paladin Energy Ltd has released an update on exploration drilling at its Patterson Lake South (PLS) Project in Saskatchewan, Canada, delivering new high-grade results. The announcement, authorized by the company's Board of Directors, is available on Paladin's website. Paladin, a globally significant independent uranium producer with a 75% ownership of the Langer Heinrich Mine in Namibia, is progressing development of the Tier-1, high-grade, and shallow PLS Project. The company also holds exploration assets in the Athabasca Basin and at the Michelin project in Newfoundland and Labrador, as well as uranium exploration assets in Australia.
Geiger Energy Makes New Uranium Discovery at Fox Zone on Kiggavik Trend
Geiger Energy Corp. has announced a new uranium discovery at the Fox Zone on its Aberdeen Project in Nunavut's Thelon Basin, with the first drill hole ever completed at the previously untested target intersecting elevated radioactivity in two zones. Drill hole FOX26-001 returned approximately 50 metres of elevated radioactivity in two intervals, from 173 to 193 metres and 200 to 230 metres, with counts largely exceeding 100 cps and locally exceeding 500 cps, plus sporadic elevated radioactivity from near surface to the end of the hole at 350 metres. The mineralization is associated with a strongly altered quartz breccia stockwork reactivated along the Andrew Lake Fault, directly on trend with Orano's Kiggavik deposits, which host approximately 133 million pounds of uranium resources. The corridor extends 17 kilometres across Geiger's Aberdeen Project, and the company plans to prioritize follow-up drilling at Fox and apply its validated targeting model to other untested anomalies along the trend.
China Uranium's 2026 interim net profit reaches 987 million yuan, up 29.08% year on year
China Uranium released its 2026 interim report. Total operating revenue was 10.583 billion yuan, up 10.80% year on year, and net profit attributable to the parent was 987 million yuan, up 29.08% year on year. Both indicators rose for a second consecutive year. Net operating cash inflow was 349 million yuan, an increase of 4.235 billion yuan compared with the same period last year. The company's asset-liability ratio was 45.23%, down 8.39 percentage points from a year earlier. Gross margin was 20.83%, up 1.61 percentage points year on year, rising for a second straight year. ROE was 5.70%. Diluted earnings per share were 0.48 yuan, up 14.29% year on year. The company had 96,200 shareholders, and the top ten shareholders held 89.20% of total share capital.
NexGen in Talks with BHP for $1 Billion Rook I Financing
NexGen Energy Ltd. is in active talks with BHP Group Limited regarding a potential equity stake and financing for its Rook I uranium project in Saskatchewan, as CEO Leigh Curyer revealed on August 17. NexGen, which recently broke ground on the project slated to be one of the world's largest and lowest-cost uranium mines, aims to raise $1 billion in capital over the next nine months through prepayments, debt, or direct equity. The company posted a net income of $74.55 million CAD in Q2 2026, reversing a net loss of $86.69 million CAD a year earlier, and holds $970.25 million CAD in cash and short-term investments. In contrast, BHP reported record FY2026 results with underlying EBITDA of $33 billion, up 27% year-over-year, and free cash flow of $9.8 billion, up 83%. BHP's financial strength and diversified portfolio contrast sharply with NexGen's development-stage profile, making the potential partnership a key catalyst for NexGen's funding gap.
Tongwei Co., Ltd. released its 2026 interim report on August 26. Relying on coordinated operations across its agriculture and solar dual-core businesses, the company saw its net loss attributable to shareholders widen to 5.119 billion yuan due to supply-demand imbalances in the solar industry and sluggish product prices. However, feed sales maintained growth and operating cash flow turned positive. Revenue for the reporting period was 34.357 billion yuan, down 15.19% year on year. Net loss excluding non-recurring items was 5.283 billion yuan, widening by 5.05%. Net cash from operating activities was 109 million yuan, compared with a net outflow of 1.951 billion yuan in the same period last year. In the agriculture and animal husbandry segment, feed sales volume reached 3.0553 million tonnes, up 3.47% year on year, with overseas sales volume up 27.57%. In the solar business, high-purity polysilicon shipments reached 155,300 tonnes, maintaining the top position in the industry. Cell sales were 34.78 gigawatts and module sales were 13.07 gigawatts, with the overseas share rising to nearly 40%. The decline in performance was mainly due to a sharp drop in solar supply chain prices. Polysilicon prices fell more than 40% from the beginning of the year, while cell and module prices dropped nearly 30%. The company also recognised substantial asset impairment losses. Looking ahead, the solar industry is still in a period of capacity clearance, and the short-term supply-demand imbalance will be difficult to alleviate. Attention should be paid to the pace of price stabilisation and progress in cost reduction through new technologies.
US threatens secondary sanctions on countries trading Iranian oil, China at risk of being targeted
The United States has announced it will use major economic attack measures against Iran under Operation Economic Outcast, targeting Iran's global financial networks, and has threatened secondary sanctions against companies and countries that still do business with Iran. China, which imports around 90% of Iran's total oil exports, risks becoming a primary target. Treasury Secretary Scott Bessent said no one is beyond the reach of US sanctions, but the US will use quiet diplomacy and give an opportunity to end ties with Iran before enforcing penalties. Analysts warn that if the US targets Chinese companies or banks, it could lead to retaliation and increase pressure on the global economy, especially ahead of the meeting between President Donald Trump and President Xi Jinping in September.
Jaguar Uranium Reports Copper Assays up to 8.54% at Huemul
Jaguar Uranium Corp. announced final copper assay results from its initial rock sampling program at the Huemul Uranium-Copper-Vanadium Project in Mendoza Province, Argentina, with copper grades reaching 8.54%, uranium up to 2.27%, silver up to 708 grams per tonne, and vanadium up to 1.27%. Sampling of strike extensions along the Uryco/Rosa and Black zone trends identified a potential 4-kilometre-long trend of copper mineralization exposed at surface. The company is planning a maiden drill campaign at the project, which includes Argentina's first-ever producing uranium mine, operated from 1955 to 1975. One over-limit uranium sample result exceeding 25,000 parts per million is still pending reanalysis.
BHP in Talks With NexGen Over Rook I Uranium Project
BHP Group is in talks with NexGen Energy over the massive Rook I uranium project in Saskatchewan, moving the mining giant closer to the center of the uranium race. NexGen is searching for roughly $1 billion in funding over the next nine months and is considering a mix of project equity, debt financing and long-term customer agreements. Rook I is not expected to start production until around 2030, but the project could become one of the world's biggest uranium operations. BHP already has uranium exposure through Olympic Dam, and Reuters reported that the mining giant previously explored a potential NexGen acquisition, although BHP has stayed quiet on the latest discussions. Shares gained about 1.4% to $87.96 as investors looked beyond traditional commodities and focused on uranium's growing role in powering the next wave of artificial intelligence infrastructure.
Big Tech Raises AI Capex Again, Boosting Uranium Supplier Cameco
Alphabet, Amazon, and Meta have all raised their capital expenditure guidance again, signaling continued aggressive investment in AI infrastructure. Alphabet lifted its 2026 capex forecast to a range of $195 billion to $205 billion, up from $180 billion to $190 billion, while Amazon increased its 2025 outlook from $200 billion to $220 billion, and Meta is issuing new debt to fund additional AI spending. This spending surge benefits not only chipmakers like Nvidia but also indirect players such as Vertiv, GE Vernova, and especially uranium producer Cameco, which supplies fuel for nuclear power plants increasingly used to power AI data centers. Cameco sold 33 million pounds of uranium last year, holds a 49% stake in Westinghouse Electric, and reported revenue of $3.5 billion with adjusted net earnings of $627 million. Analysts maintain a strong buy rating on Cameco with an average price target of $125.25, nearly 30% above its current price.
enCore Energy launches $250M at-the-market equity program
enCore Energy has entered into a controlled equity offering agreement for an at-the-market equity distribution program allowing the sale of up to $250 million in common shares. The agreement with a syndicate led by Cantor Fitzgerald permits enCore to sell common shares from time to time at prevailing market prices. The company plans to use the proceeds for possible future acquisitions, other strategic growth opportunities, and general corporate purposes. Shares fell 8.1% pre-market Thursday following the announcement.
Greenland orders US company's oil drilling plan postponed to 2027
Greenland authorities have ordered Greenland Energy, a US oil company with ties to the administration of President Donald Trump, to postpone its Arctic drilling plans until the winter of 2027 after the company brought drilling equipment ashore without permission and the environmental and social impact assessment process has not yet been completed. The delay runs counter to remarks by Jeff Landry, the US envoy to Greenland, who had previously suggested that oil from the area could begin production within about 10 months. Robert Price, CEO of Greenland Energy, confirmed that the company will proceed with the project responsibly and fully comply with Greenland's regulatory processes, while the company's share price fell by more than a third after the news was announced.
ASP Isotopes Targets 2026 Deliveries as Helium, Radiopharmacy Expansion Gains Speed
ASP Isotopes outlined plans to begin commercial deliveries of Silicon-28, Carbon-14 and Ytterbium-176 in the second half of 2026, though delays and engineering issues at its South African facilities remain a risk. The company expects Phase 1 helium production from its Virginia Gas Project to start by the end of September, with revenue anticipated in 2026, and has contracted about 15% of Phase 1 capacity. A much larger Phase 2 expansion is planned, backed by approximately $750 million in funding from the U.S. government and Standard Bank, targeting a roughly 12 to 13 times capacity increase and completion by 2031. ASP Isotopes is also expanding its radiopharmacy footprint through recent U.S. acquisitions and plans to add cyclotrons for PET-isotope production, aiming to vertically integrate stable-isotope enrichment with nuclear-medicine manufacturing. The company reported approximately $290 million on its balance sheet as of March 2026 and set a midterm target of EBITDA exceeding $300 million in 2031, excluding its nuclear business.
Ur-Energy reports second-quarter sales of 215,000 pounds of U₃O₈ generating $14.4 million in revenue
Ur-Energy announced that its second-quarter sales under contracted deliveries totaled 215,000 pounds of U₃O₈, generating $14.4 million in product sales revenue. The company also reported unrestricted cash and cash equivalents of $95.3 million as of June 30, 2026.
China Uranium Plans to Invest 253 Million Yuan of Excess Raised Funds in Two Projects
The board of China Uranium has approved a proposal to use excess raised funds for investment in construction projects. The company plans to invest 253 million yuan of excess raised funds in the supporting facilities project for the in-situ leaching uranium mining at the Hadatu uranium deposit of CNNC Inner Mongolia Mining, as well as in the key technology research and engineering demonstration project for coordinated coal and uranium mining. The total estimated investment is 288 million yuan. This matter still needs to be submitted to the shareholders' meeting for deliberation.
NexGen Energy Rook I Construction on Track, Uranium Sales and Funding Talks Advance
NexGen Energy said construction at its Rook I uranium project in Saskatchewan remains on schedule and within its C$2.2 billion budget, with shaft sinking targeted for early 2027. The company ended the second quarter with C$970 million in liquidity and is evaluating project financing, government support, strategic transactions and uranium prepayments to fund remaining construction. NexGen has contracted 11.3 million pounds of uranium and is negotiating additional agreements, including one potential deal covering up to 20 million pounds, while aiming to preserve exposure to future uranium prices. About half of a planned 42,000-meter drilling program at the Patterson Corridor East discovery has been completed, with another 20,000 meters expected by year-end to expand the mineralized footprint ahead of a potential resource estimate.
Centrus Energy Q2 revenue rises 14%, backlog hits $4.5 billion
Centrus Energy reported second-quarter revenue rose 14% year over year to $176.1 million, with adjusted net income of $38.7 million, or $1.77 per diluted share. The LEU segment grew 22% to $153.4 million, while Technical Solutions revenue declined 21% to $22.7 million. The company's commercial backlog expanded to $4.5 billion through 2040, including $3 billion in contingent LEU and HALEU enrichment sales. Centrus also secured a $900 million Department of Energy task order and new HALEU agreements with Oklo and X-energy to support capacity expansion. Management maintained 2026 revenue guidance of $450 million to $500 million and capital-spending guidance of $350 million to $500 million, while raising its Piketon hiring target to more than 175 employees and continuing to target commercial production in 2029.
Trump Pours Three Billion Dollars into Critical Mining to Reduce Reliance on China
President Donald Trump announced that the U.S. government is preparing to invest three billion dollars in critical mining projects to reduce dependence on supply chains dominated by China. One key project is a 1.4-billion-dollar loan agreement with Sila Nanotechnologies from the Office of Strategic Capital under the U.S. Department of Defense, aimed at expanding production of silicon anodes for batteries and lithium-ion battery cells. The Department of Defense is also set to invest 400 million dollars in Sunrise Energy Metals to expand scandium production in Australia, and another 150 million dollars in Niron Magnetics, a magnet manufacturer based in Minnesota. Meanwhile, the Export-Import Bank of the United States is working to secure over one billion dollars in financing for Ivanhoe Electric's Santa Cruz copper mine in Arizona, along with a 25-million-dollar investment to kick-start a graphite mine in Alabama. The U.S. government also plans to spend more than 180 million dollars to support educational programs for the mining industry, with the goal of training a new generation of American mine workers. Trump stated that these efforts will help the United States avoid relying on hostile foreign nations for the resources needed to build the country's strength in the future.
Eagle Nuclear Energy Engages CBIZ CPAs as Independent Auditor
Eagle Nuclear Energy Corp. has engaged CBIZ CPAs P.C. as its independent registered public accounting firm following a thorough evaluation by its Audit Committee and approval from the Board of Directors. The company, which owns one of the largest conventional, measured and indicated uranium deposits in the United States, is advancing its flagship Aurora Uranium Project toward a Pre-Feasibility Study scheduled for completion in late 2027. CEO Mark Mukhija stated that CBIZ CPAs brings specialized expertise across the energy and mining sectors. Eagle Nuclear Energy went public in February 2026 and is building an integrated nuclear energy platform that combines domestic uranium resources with advanced small modular reactor technology.
Cosa Reports Partner-Funded Radiometric Survey Results at Aurora Uranium Project
Cosa Resources Corp. announced results from a property-wide airborne radiometric survey at its Aurora uranium project in Saskatchewan's Athabasca Basin, fully funded by Traction Uranium Corp. under an option agreement. The survey, flown at 50-metre line spacing by Special Projects Inc., identified multiple uranium-source radiometric anomalies near prospective basement features and produced a high-resolution magnetic model that advances understanding of basement geology. Traction can earn up to an 80% interest in Aurora by sole-funding $9.15 million in exploration expenditures and completing cash and share payments. A follow-up drill program, also 100% funded by Traction, is planned for fall 2026 after Cosa completes drilling at its Murphy Lake North and Darby joint ventures with Denison Mines.
Anfield Energy closes US$6.9 million underwritten public offering
Anfield Energy has closed its previously announced underwritten public offering of 1,715,000 common shares at US$4.00 per share for aggregate gross proceeds of US$6.9 million. The offering included the full exercise of the underwriters’ option to purchase an additional 233,695 common shares and was conducted through a syndicate led by Northland Capital Markets and Roth Capital Partners as joint bookrunners. Existing strategic investor Uranium Energy Corp participated through its wholly-owned subsidiary UEC Energy Corp, purchasing 625,000 common shares for gross proceeds of US$2,500,000, which constituted a related party transaction. The company intends to use the net proceeds to fund capital commitments at the Paradox Complex, Velvet-Wood Project, Slick Rock Complex, and Shootaring Canyon Mill, as well as for working capital and general corporate purposes.
Cameco maintained its 2026 production outlook of 19.5 million to 21.5 million pounds of U3O8 despite weather-related disruptions at Key Lake and McArthur River and a temporary suspension at Cigar Lake. CEO Tim Gitzel said the company is on track with its expectations, citing growing support for nuclear energy, while long-term uranium prices reached decade highs and contracting activity increased. Cameco has contracts for average annual deliveries of more than 28 million pounds over the next five years and remains selective on additional commitments. Westinghouse reported a pipeline of 91 AP1000 reactor opportunities, supported by a potential $17.5 billion U.S. Department of Energy financing commitment. Management said standardized reactor designs and new construction could create recurring demand across its uranium, conversion, enrichment and nuclear-services businesses.
Multiple Companies on Shanghai and Shenzhen Stock Exchanges Announce Positive News: Mentech Optical & Magnetic Plans Private Placement to Raise Up to 1.283 Billion Yuan
On the evening of July 31, several listed companies on the Shanghai and Shenzhen stock exchanges issued important positive announcements. Mentech Optical & Magnetic plans to issue shares to specific investors to raise no more than 1.283 billion yuan for projects including intelligent manufacturing of high-speed optical modules. Hongqiao Holdings plans a private placement to raise up to 12 billion yuan for wind power, photovoltaic, and aluminum deep processing projects. GigaDevice plans to repurchase shares worth 1 billion to 2 billion yuan and cancel them to reduce registered capital. Fullhan Microelectronics expects its net profit attributable to the parent company in the first half of 2026 to increase by 1,072.72% to 1,420.19% year-on-year. China National Nuclear Power's Liaoning Zhuanghe nuclear power project Units 1 and 2, and Zhejiang Jinqimen nuclear power project Units 3 and 4, have been approved by the State Council executive meeting. In addition, Southern Network Technology plans to acquire 100% equity of Yueneng Power for 445 million yuan, Shanghai Shineway plans to invest in the industrialization project of solid-liquid hybrid battery cells and solid electrolyte powder, and Inventronics announced that starting September 1, prices of some products will be raised by about 5% to 15% overall.
Uranium Energy Stock Down 50% in 2026 as Spot Prices Fall, but Long-Term Contract Prices Rise
Uranium Energy shares have fallen 50% from their early 2026 peak, tracking a decline in uranium spot prices. The company held 1.46 million pounds of uranium at the end of its fiscal third quarter of 2026, making its stock a proxy for the commodity. While spot prices have dropped, long-term contracted uranium prices have continued to rise as nuclear power producers lock in fuel supplies. Cameco, one of the world's largest uranium producers, has warned that demand will outstrip supply in the early 2030s, which could boost uranium prices and the value of Uranium Energy's inventory. The stock remains highly volatile and suited only for investors with a strong conviction in a coming uranium supply shortfall.
Noble Plains Uranium CEO Says Next AI Trade May Be Power
Noble Plains Uranium CEO Drew Zimmerman said in a fireside chat that the next AI trade may be power, highlighting uranium as a strategic national asset. He discussed how Wyoming in-situ recovery offers the fastest path to domestic uranium growth and outlined Noble's model of converting historic uranium into compliant pounds. Zimmerman pointed to the Duck Creek project as proof the strategy works and noted that the Shirley Central project benefits from AI-driven acceleration and infrastructure alignment. He also emphasized that junior uranium offers torque but requires selectivity.