Possible Uranium Shortage

American and European companies in the nuclear energy supply chain have become increasingly vulnerable to a possible supply shock in the uranium market amid fierce resource competition from China and Russia and the planned surge in nuclear power generation to meet electricity demand. As many countries are now looking to nuclear power to cut emissions and reliance on imports of oil and gas, and meet the growing power demand from AI and data centers, they would need more uranium supply. But China and Russia have moved to secure supply from African countries and are buying the key nuclear fuel from Kazakhstan, which is the biggest producer of uranium in the world and prefers to keep its sales diversified.