The uranium E&P industry was dominated in 2018 by four producers. The operators in the Athabasca Basin, Canada, enjoy the highest-grade uranium deposits and have a geological edge over other uranium districts. However, some U.S. producers are requesting relief measures from the Trump administration. Then, there are a number of uranium miners operating in Latin America and Africa as well as Australia and Europe. This idea was discussed in more depth with members of my private investing community, The Natural Resources Hub.
"We extract ... uranium from the formation and send it to atomic reactors, so we are actually purifying the subsoil from heavy metals." ‒ Kalilallo Baytasov of KazAtomProm, 2013 "There has indeed been a nuclear winter verging on an Ice Age over the last few years with bad news heaped upon bad news within the context of a pretty dismal financing situation for mining all around. ... The yellow mineral had made fools and liars of many in recent years, including ourselves." ‒ Christopher Ecclestone of Hallgarten & Company, 2014 Note: This article is the second in a multi-piece treatise on the uranium mining industry. In Part 1, I examine the demand-supply picture to locate where the uranium industry currently is in the cycle. In this piece, I intend to study the competitive landscape of the uranium mining industry based on a database I have built. Thereafter, I plan to establish a valuation framework and use it to select a number of investible targets, which will be examined in detail to come up with actionable investment theses.
Original URL: https://seekingalpha.com/article/4183753-uranium-mining-competitive-landscape
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