Teresa Matich reports that the commission is set to release a report on the state of the nuclear industry in coming weeks, and Handelsblatt news was able to see the document in advance of its publication. German business and financial publication Handelsblatt reported that the European Commission is planning to call on European utility companies to make major investments in nuclear energy.
The Commission estimated that to secure energy supply across the 28-nation bloc, investments of between 450 billion and 500 billion euros are needed in nuclear power by 2050, the publication stated. Of that, between 45 and 50 billion euros would go towards maintaining existing power stations. The remainder would be invested in building new plants.
Rob Chang, managing director and head of metals and mining and Cantor Fitzgerald, was certainly positive on the news. This will be very positive for uranium prices and for uranium exploration and mining companies, and equities across the board and among producers, he said. Specifically, he cited Cameco, Ur-Energy, and Uranium Energy Corp, as examples, among many others.
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