Political instability in Niger could threaten global uranium supplies: The coup in Niger and its implications for the country’s role as a major uranium producer are causing international concern as more countries turn to nuclear power as a source of clean energy, The National writes. Niger — which supplies around 5% of the world’s uranium — is a major exporter to EU markets, which receives 15% of Niger’s supply. France sources 25% of its demand for uranium from Niger. The country’s recent military coup is raising concerns over the security of the country’s uranium mines.

Huge power capacity: Nuclear power supplies 25% of the world's clean electricity, with output totalling 2.5k TWh in 2022, according to The World Nuclear Association's World Nuclear Performance report. The global uranium market was valued at around USD 2.6 bn in 2021-2022 and is expected to expand at a CAGR of 3.6% to reach in excess of USD 3.2 bn by 2030, according to a Market Watch forecast.

We’ve seen a global push for nuclear recently: The Chinese State Council approved six new nuclear reactors worth USD 17 bn this week, and Japan reactivated its oldest nuclear reactor — the 48-year-old Takahama 1 plant — after a 12-year hiatus. Closer to home, the UAE and South Korea held high-level talks this week to strengthen cooperation in the nuclear sector, and the Gulf Cooperation Council (GCC) and Russia said they are adopting a joint action plan for 2023 to 2028 that will see them set up frameworks for partnership in nuclear power earlier this month.

OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-

  • China commits to mega overseas green investments: The country allocated 56% of its 1H 2023, some USD 8.6 bn, to solar, wind, or hydropower projects. China has also upped its engagement in the metals and mining sectors by 131% from the same period last year on the back of investments in lithium and copper mining and processing. (Reuters)
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