Uranium Stocks Soar as Kazakhstan's New Tax Limits Future Supply🚀

This is Nuclear Update. We distill nuclear news into powerful insights – like extracting energy from enriched uranium.

This is what we got for you this week:

• Uranium Stocks Soar as Kazakhstan's New Tax Limits Future Supply🚀

• Serbia Corrects 35-Year Mistake with New Nuclear Energy Program✅

• Thailand Urged to Adopt SMR to Lower Electricity Costs🙏

• 77% of Canadian Town Residents Support Hosting Nuclear Waste Facility😍

Uranium Stocks Soar as Kazakhstan's New Tax Limits Future Supply🚀

Uranium mining stocks soared on Wednesday after Kazakhstan announced a surprise hike in extraction taxes, which is expected to limit future uranium supply growth. The new Mineral Extraction Tax (MET) replaces the existing 6% flat rate with a two-tier system starting in 2025, increasing to 9% and potentially up to 20.5% based on production output and spot uranium prices. This change reduces incentives for Kazatomprom, the world's largest uranium producer, to increase production. The new tax structure, aimed at higher revenues, could instead drive higher uranium prices due to constrained supply. As a result, uranium mining stocks, including NexGen Energy, Denison Mines, and Cameco, saw significant gains, reflecting investor anticipation of rising uranium prices and limited future supply growth.

Serbia Corrects 35-Year Mistake with New Nuclear Energy Program✅

Serbia's Minister of Mining and Energy, along with representatives from five other ministries, 20 academic faculties, scientific institutes, and energy companies, have signed a memorandum of understanding (MoU) to develop a nuclear energy program. Minister Đedović Handanović emphasized gathering domestic and international experts to explore the feasibility of nuclear energy in Serbia, despite a 1989 ban on new nuclear plants. A preliminary study will analyze technologies and requirements to support this initiative. Minister Sandra Dokić highlighted nuclear power's role in achieving EU climate goals. Prime Minister Miloš Vučević stated the MoU rectifies past mistakes, aiming for Serbia's energy independence and environmental protection. The MoU includes contributions from prominent scientific and educational institutions and key energy companies.

Thailand Urged to Adopt SMR to Lower Electricity Costs🙏

The International Chamber of Commerce is urging Thailand to invest in small modular nuclear reactors (SMR) to support data center operations and reduce electricity prices. Montri Mahaplerkpong, the chamber's chairman, emphasized the need to revamp Thailand's energy structure to foster the country as a data center hub in ASEAN. He highlighted that electricity consumption is expected to triple due to data centers, and high electricity prices are deterring investors. SMRs, noted for their safety and minimal infrastructure requirements, could supply power to entire provinces. Mahaplerkpong suggested collaboration between government and private sectors, similar to Vietnam's approach, to tackle blackouts and lower electricity costs. He also noted that the construction cost of a plant is comparable to building a dam, and provinces with numerous factories, like Samut Sakhon and Samut Prakan, could benefit from nuclear power.

77% of Canadian Town Residents Support Hosting Nuclear Waste Facility😍

The Township of Ignace in north-western Ontario has confirmed its willingness to host Canada's deep geological repository (DGR) for used nuclear fuel, becoming the first community to advance in the site selection process. This decision follows extensive community engagement, including a vote where 77.3% of participants supported hosting the DGR. Ignace's engagement process involved direct dialogue with residents, youth engagement, and input from a volunteer Willingness Ad Hoc Committee. NWMO continues discussions with other communities, with a final site decision expected by December 2024. Construction of the repository is projected to begin in 2033, with operations starting in the early 2040s.

Nuclear Nuggets🧽

The Indonesia has announced the inclusion of nuclear power plants in Indonesia’s General Electricity Plan for 2033, signifying a new phase in power generation in the country.

Russia and India agree to push ahead with plans for new nuclear reactors. Future projects includes six large reactors and SMRs in India.

Belgian leader Bart De Wever has requested energy company Engie to keep nuclear reactors running longer.  He believes extending their operations is crucial for Belgium’s energy security and to meet climate goals. Engie is being urged to reconsider the current plan to phase out nuclear energy by 2035.

Meme 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.