The Q3 2023 Uranium Quarterly Report can be found here, offering insights on nuclear and uranium news and performance of the Global X Uranium ETF.
Key News of the Quarter
- US aims to expand uranium enrichment capabilities. The White House is seeking $2.2 billion of additional funding from Congress for enriching uranium needed for new breed of advanced reactors.1
- Japan paves the way for reopening of nuclear power plants. Recent approval by the Japanese Government to release radioactive wastewater from the Fukushima facility in accordance with the international safety standards would aid the reopening of other nuclear power plants in the country.2
- France aims to increase production of nuclear fuel. To reduce reliance on Russian fuel, France will spend €1.7 billion to expand a uranium-enrichment plant in the southern part of the country as the west seeks to cut down on nuclear fuel imports.3
- Mongolia in talks with France for operating a uranium mine. An investment agreement between France and Mongolia to develop and operate a mining project is expected to be signed by end of 2023.4
- Finland to consider extension of nuclear plant operator. To achieve a 10-year operational license extension and power uprating, plant operators has begun an environmental impact assessment to continue contributing to the nuclear power generation in the country. 5
- UK plans to expand nuclear energy capacity to 24 GW by 2050. With an aim to increase nuclear energy production, the government has selected 6 companies to bid for contracts in order to develop small modular reactors (SMRs).6
- Norway might have its first nuclear power plant. A cooperation agreement have been signed between a Norwegian and Finnish company to assess the suitability of SMR nuclear power plant in some Norwegian municipalities.7
- Philippines partners with US for a nuclear feasibility study. To meet the growing power demand and need to transition towards a sustainable energy future, Philippines is considering deployment of Micro-Modular Reactor energy systems.8
- Korea now has its first privately-funded Energy Exploration center. In a pursuit to develop the next generation of advanced nuclear experts, South Korea opened up an exploration center for hands-on experience to apply nuclear science and engineering principles through simulated, real-world nuclear power plant operation scenarios.9
For performance current to the most recent month- and quarter-end, please click here. The Fund’s investment objective and investment strategies changed effective May 1, 2018 and again on August 1, 2018. Hybrid index performance (noted as “SOLURANT Index” above in the chart) reflects the performance of the Solactive Global Uranium Total Return Index through April 30, 2018, the Solactive Global Uranium & Nuclear Components Transition TR Index through July 31, 2018, and the Solactive Global Uranium & Nuclear Components Total Return Index thereafter.
Solactive Global Uranium & Nuclear Components Total Return Index: The Solactive Global Uranium & Nuclear Components Total Return Index tracks the price movements in shares of companies which are (or are expected to be in the near future) active in the uranium industry. This particularly includes uranium mining, exploration, uranium investments and technologies related to the uranium industry. The Index will include a minimum of 20 components at every rebalancing.
Click the fund name above to view current holdings. Holdings are subject to change. Current and future holdings are subject to risk.