Wedoany.com Report on Mar 18th, The uranium market has remained stable recently, with spot prices currently holding around $85 per pound after reaching $100 per pound in early 2026. This price is slightly below the long-term uranium price of $90 per pound estimated by major uranium producer Cameco, which is often used as a reference for long-term contract sales. Australian broker Shaw and Partners maintains an optimistic outlook on the uranium industry, raising its 2027 uranium price forecast from $150 to $175 per pound and anticipating a potential rise to $200 per pound by 2028. Global annual uranium production is approximately 150 million pounds, falling short of the 180 million pounds required by the nuclear industry, with this supply-demand gap supporting high prices. As China, the United States, and India construct new nuclear power plants, demand is expected to grow continuously, potentially reaching 390 million pounds by 2040. Uranium constitutes a small portion of nuclear power plant operating costs, and operators may pay higher prices for supply security. Shaw and Partners recommends investors overweight uranium assets and gives uranium companies listed on the ASX a buy rating.
Atomic Eagle's Muntanga uranium project in Zambia has seen a 24% increase in resource, with total resources now elevated to 58.8 million pounds following a March 2026 report of a new deposit. A feasibility study indicates the project is planned as an open-pit and heap leach operation, expected to produce 25.3 million pounds of U3O8 over 12 years, generating approximately $672 million in free cash flow, with a post-tax net present value of $243 million, an internal rate of return of 20.8%, and a payback period of 3.5 years.
Aura Energy's Tiris uranium project in Mauritania has received full permitting, with a recent $20 million placement accelerating development. An updated feasibility study forecasts capital costs of $230 million, an all-in sustaining cost of $35.70 per pound, a post-tax net present value of $499 million, an internal rate of return of 39%, and a payback period of 2.25 years. The company has secured a long-term offtake agreement with a U.S. nuclear utility and signed a spot sales agreement with a global uranium trading group to support project delivery.
American Uranium operates the Lo Herma in-situ recovery uranium project in Wyoming, USA, with resources of 8.57 million pounds of U3O8. It is considered a low-cost project with near-term production potential. Drilling has confirmed mineralization extensions, and hydrogeological testing shows favorable conditions. The ISR mining method can reduce costs and environmental impact.
Moab Minerals holds the Manyoni and Octavo uranium projects in Tanzania. The Manyoni project has resources of 27.19 million pounds of U3O8 and is located on a stable geological platform, with the previous owner conducting extensive exploration that identified high-grade zones. The Octavo project is adjacent to Rosatom's Nyota project, with mineralization hosted in sandstone, indicating development potential.
Pioneer Minerals' Skull Creek project in Colorado, USA, is set to undergo drill testing. Located in a historical uranium mining district, rock chip sampling shows high uranium grades, and soil anomalies indicate potential mineralization. The project is divided into three blocks, with the western and eastern blocks defining priority drill targets, offering potential for new resource discoveries.
