💥Feds Make Biggest Nuclear Deal Ever

Welcome to Nuclear Update! While atoms make up everything, we make sure to deliver nothing but the factual news from the nuclear world.

This is what we got for you this week:

• 💥Feds Make Biggest Nuclear Deal Ever

• 🛑Uranium Giant Halts 5% of Global Supply

• 🎉Monticello Extended to 2050, NRC Reviewing 6 More Renewals

• 🏆Global Nuclear Power to Hit Record High in 2025

💥Feds Make Biggest Nuclear Deal Ever

The U.S. General Services Administration (GSA) has signed an unprecedented 10-year, $840 million contract with Constellation Energy to supply nuclear power to more than 13 government agencies.

This milestone marks the largest procurement in GSA history, underscoring the federal government's growing commitment to nuclear energy.

Beginning in 2025, Constellation will expand plant output through “uprates” and aims to add around 1,100 MW of continuous clean energy by 2028—enough to power over one million homes.

GSA Administrator Robin Carnahan praised the agreement for securing a cost-competitive nuclear supply, accelerating America’s transition to a carbon-free energy future and reducing reliance on fossil fuels.

🛑Uranium Giant Halts 5% of Global Supply

Kazakhstan’s Inkai uranium mine — jointly owned by Kazatomprom (60%) and Cameco (40%) — has abruptly halted production, raising concerns for global uranium markets.

Kazatomprom, majority owned by the Kazakh government, informed Cameco on December 31 that operations were suspended as of January 1 due to a missed deadline for project documentation required by Kazakhstan’s Ministry of Energy.

When at 100% capacity, Inkai contributes roughly 5% of the global uranium supply. This disruption is akin to Brazil halting oil production, highlighting its critical global role.

Cameco, citing no prior warnings of a suspension risk as late as December 26, 2024, expressed disappointment and is assessing the impact on 2025-2026 production and financials while seeking solutions to help Kazatomprom resume operations.

🎉Monticello Extended to 2050, NRC Reviewing 6 More Renewals

The US Nuclear Regulatory Commission (NRC) has granted Monticello nuclear power plant a second 20-year license renewal, extending its operation until September 2050.

The 628-MW Boiling Water Reactor (BWR) in Minnesota previously received a renewal in 2006, enabling it to operate beyond its original 2010 expiration date.

Monticello’s latest extension follows a thorough safety and environmental review completed in 2024, making it the ninth reactor to secure a subsequent license renewal.

Meanwhile, the NRC is reviewing six more applications that cover 13 reactors across the country.

The plants under review include Pressurized Water Reactors (Point Beach 1 and 2, St. Lucie 1 and 2, Oconee 1–3, V.C. Summer 1) and Boiling Water Reactors (Browns Ferry 1–3, Dresden 2 and 3).

⚛️Nuclear Nuggets

Hailu Heavy Industry, a Chinese manufacturer of pressure vessels, announced plans to invest CNY400 million (USD54.8 million) in a new facility to mass produce fourth-generation nuclear power equipment.

Australian Financial Review: “Stars align for ‘multi-year’ uranium bull market. Ignore the short sellers and buy up nuclear stocks as uranium prices are set to go on a tear. The nuclear energy sector, and uranium in particular, is experiencing a historic run. After more than a decade of underinvestment, the stars are aligning for this critical energy source.”

The unit for fabrication/refabrication of nuclear fuel for the BREST-OD-300 Lead-cooled Fast Neutron Reactor has been put into pilot operation, Rosatom has announced.

The Biden administration said on Friday portions of nuclear power plants will be able to secure tax credits to produce clean hydrogen if the credits help to prevent reactors from retiring.

Microsoft plans to spend $80 billion in fiscal 2025 on the construction of data centers that can handle artificial intelligence workloads, the company said in a Friday blog post.

😂Meme of the Week

💪Review of the Week

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research