Quarterly Uranium Report: Q4 2022

Feb 23, 2023

The most recent Quarterly Uranium Report can be found here, offering insights on nuclear and uranium news, performance of the Global X Uranium ETF, and some industry’s key concepts.

Key News of the Quarter

  • US is undertaking multiple steps to invest in nuclear energy domestically and globally: Biden-Harris Administration announced $150 million to Improve Nuclear Research and Development Infrastructure at Idaho National Laboratory.1 The US Department of Energy bought 300,000 pounds of U3O8, starting their earlier solicitation to buy 1 million pounds with up to $75 million in contracts for the strategic uranium resource.2 Moreover, the US will assist Thailand to produce nuclear power3, will begin negotiations with Philippines to build nuclear power stations with American technology4 and with Turkey to sell to the country small module reactors (SMRs).5 Other plans include starting a 2-year Ukraine Clean Fuels from SMRs Pilot demonstration project and initiating Project Phoenix to switch Europe from coal-fired reactors to SMRs.6
  • The United Kingdom is completing plans to back the construction of nuclear reactors. As part of a plan to phase out gas power plants and decarbonize the electricity supply, UK policymakers are completing plans to finance new small nuclear reactors.7 In December, they committed £77 million to aiding in the development of nuclear reactors and nuclear fuel manufacturing. 8 The Sizewell C’s ambitious nuclear proposal advanced with official backing.9
  • Sweden intends to increase its power plant capacity to improve energy security. Sweden’s new centre-right administration wants to build additional nuclear power facilities to increase energy security and reduce carbon emissions. Prime Minister Ulf Kristersson said a new law will abolish restrictions that limit Swedish nuclear reactors to 10 in three locations of the country. After the 2011 Fukushima nuclear accident in Japan, rightwing and leftwing governments closed half of Sweden’s reactors, leaving six.10
  • France to streamline nuclear reactors construction. As President Macron pushes for at least six new facilities to decrease carbon emissions, the French nuclear industry, currently struggling to maintain its fleet of older reactors, needs to hire 15,000 workers annually.11 Macron wants to streamline rules to develop new nuclear reactors faster as maintenance concerns plague France’s older atomic facilities and the energy crisis accelerates the shift away from fossil fuels.12
  • Korea intends to build reactors in Turkey and Poland. The government-owned Korea Electric Power is in talks with Turkey about constructing four nuclear plants13, and its subsidiary Korea Hydro & Nuclear Power has a letter of intent from Polish utilities PGE SA and ZE PAK SA to construct Poland’s second nuclear power plant.14
  • India’s best hope for meeting its climate goals is nuclear energy. India’s largest power producer, NTPC Ltd., plans to build a big nuclear fleet to help the country transition away from coal and reach net-zero emissions by 2070.The state-run business expects to construct 20 to 30 gigawatts of nuclear power by 2040. Nowadays, India has 22 operational reactors with around 6.8 gigawatts of capacity.15

For performance data 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.

URA does not have any holdings in EDF Energy, Korea Electric Power, Kore Hydro & Nuclear Power, PGE SA, ZE PAK SA and NTPC Ltd. Holdings are subject to change.


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.

Related ETFs

URA– Global X Uranium ETF

Click the fund name above to view current holdings. Holdings are subject to change. Current and future holdings are subject to risk.

Category: Reports

Topics: Commodities

Investing involves risk, including the possible loss of principal. International investments may involve risk of capital loss from unfavorable fluctuation in currency values, from differences in generally accepted accounting principles, or from economic or political instability in other nations. Emerging markets involve heightened risks related to the same factors as well as increased volatility and lower trading volume. Narrowly focused investments may be subject to higher volatility. There are additional risks associated with investing in Uranium and the Uranium mining industry. URA is non-diversified.

Shares of ETFs are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Brokerage commissions will reduce returns. Beginning October 15, 2020, market price returns are based on the official closing price of an ETF share or, if the official closing price isn’t available, the midpoint between the national best bid and national best offer (“NBBO”) as of the time the ETF calculates current NAV per share. Prior to October 15, 2020, market price returns were based on the midpoint between the Bid and Ask price. NAVs are calculated using prices as of 4:00 PM Eastern Time. The returns shown do not represent the returns you would receive if you traded shares at other times. Indices are unmanaged and do not include the effect of fees, expenses or sales charges. One cannot invest directly in an index.

Carefully consider the Fund’s investment objectives, risks, and charges and expenses before investing. This and other information can be found in the Fund’s summary or full prospectuses, which may be found on Please read the prospectus carefully before investing.

Global X Management Company LLC serves as an advisor to Global X Funds. The Funds are distributed by SEI Investments Distribution Co. (SIDCO), which is not affiliated with Global X Management Company LLC or Mirae Asset Global Investments. Global X Funds are not sponsored, endorsed, issued, sold or promoted by Solactive AG, nor does Solactive AG make any representations regarding the advisability of investing in the Global X Funds. Neither SIDCO, Global X nor Mirae Asset Global Investments are affiliated with Solactive AG.