16.06.2026 22:01
The massive electricity demand brought by the artificial intelligence revolution and global geopolitical tensions have made uranium, the main fuel for nuclear energy, the world's most strategic mineral. As a major supply crisis unfolds in uranium, which banking giant Goldman Sachs has called the 'new gold,' analysts are issuing serious warnings that historical price records will be broken in the coming years.
The rapidly increasing electricity appetite of artificial intelligence data centers worldwide and the consecutive nuclear investments announced are driving the uranium market into an unprecedented bottleneck. According to recent analyses, the world will face a massive uranium deficit of up to 2 billion pounds by 2045.
MAJOR BANK WARNS CALLING IT "NEW GOLD": RECORDS AHEAD
While demand grows so aggressively, insufficient supply has also sent price forecasts skyrocketing. Goldman Sachs predicts that uranium prices will rise to $91 per pound by the end of this year and to $120 per pound by 2027. For uranium, which Goldman Sachs describes as the "new gold," some independent commodity analysts point out that due to the market squeeze, prices could climb to $135 within a short time.
SUPERPOWERS AND TECH GIANTS ARE RUSHING IN
Global powers and technology giants seeking solutions to the growing energy crisis are virtually competing with each other in nuclear energy investments. China has approved 10 new nuclear unit projects with a massive budget of $27 billion to expand its nuclear capacity. The US, on the other hand, is restarting the Palisades Nuclear Power Plant, which had previously been shut down.
Meta, aiming to stay ahead in the AI race, is taking strategic steps to build small modular reactor capacity, while Amazon Web Services (AWS) has begun reserving resources through long-term nuclear energy agreements to secure its future energy supply.
GLOBAL SUPPLY CANNOT KEEP UP WITH DEMAND
Behind the alarm bells ringing in the uranium market lies a very clear mathematical imbalance. Last year, global uranium production remained at 173 million pounds, while annual consumption by nuclear reactors worldwide reached 204 million pounds. This resulting annual deficit of 31 million pounds has driven long-term contract prices to $90, the highest level in 14 years.
3 COUNTRIES HOLD THE WORLD'S RESERVES
The reserve leaders of this mineral, which provides energy equivalent to 100 tons of coal with just 1 kilogram, are Australia with 28%, Kazakhstan with 14%, and Canada with 10%.
MARKET LEADER COUNTRY REDUCES PRODUCTION
However, Kazakhstan, the absolute dominator of the market shouldering about 39 to 43 percent of global production alone, has announced through its state company Kazatomprom that it has reduced its 2026 production target by 10%. Along with this cut, US import bans on Russian uranium and Russia's retaliatory moves have fully escalated the risks in uranium supply.