Price of uranium concentrate hits 16-month high due to coup in Niger

Retail investors are buying into uranium-linked funds, amid fears about the coup in Niger, a key producer, hitting supplies and wider expectations of a global increase in demand, Report informs referring to the Financial Times.

The uranium spot price hit a 16-month high of $58.50 per pound this week according to the Uranium Exchange Company.

Meanwhile, the coup in Niger risks disrupting the supply of uranium, which is managed locally by the majority-state owned French company Orano.

Niger has approximately 5 percent of the world’s reserves, according to the International Atomic Energy Agency.