Employee holding up yellowcake at a uranium processing facility at Turamidih Uranium Mill in India.
Pallava Bagla | Corbis News | Getty Images
The uranium renaissance has a slight hitch: the world’s largest producer of the yellowcake is staring at a production snag over the next two years.
And that’s about to send uranium prices, already at 16-year highs, on another rally.
Kazakh mining company Kazatomprom recently cautioned that it is likely to fall short of production targets through 2025 due to construction delays and “challenges related to the availability of sulfuric acid.” Sulfuric acid is critical in the extraction process as it is used to leach and recover uranium from raw ore.
Kazatomprom is the world’s leading uranium miner, accounting for over one-fifth of the world’s production. Kazakhstan also produces 43% of the world’s uranium supply, the largest slice of the global market for the heavy metal. Kazatomprom’s announcement comes as other major producers struggle. Canada-based Cameco has flagged lower production, while France-owned Orano has shut its Niger operation.
We’re in the middle of the biggest reactor build program in decades.
Guy Keller
portfolio manager at Tribeca
“We’re coming from a decade of under supply,” said Guy Keller, portfolio manager at investment and advisory firm Tribeca. He added that the deficit will continue as “we’re in the middle of the biggest reactor build program in decades.”
Uranium is a key material in nuclear power production and demandhas soared as governments try to shift away from carbon-emitting fuels and reduce their reliance on Russian oil and gas.
Around 60 nuclear power reactors are under construction in 17 countries and another 110 are in the planning stages. Most projects underway are in Asia, particularly China.
Citibank expects uranium prices to average $110 per pound in 2025.
“The main fundamental drivers of the bull market have been the closure of mines due to years of overproduction and low prices,” the bank wrote in a report published Monday.
Jefferies is also bullish on the metal.
“With short-term dynamics remaining supportive, prices seem on course to exceed the June 2007 all-time highs of US $136/lb,” the brokerage wrote in a research note.
Geopolitical supply concerns
Cooling towers at a nuclear power plant in Slovakia.
Janos Kummer | Getty Images News | Getty Images
“This confluence of factors is setting up an even larger projected supply deficit in the coming years and potential disruptions to the nuclear fuel supply chain,” Ciampaglia told CNBC in an email.
As a result, countries that rely heavily on nuclear power may need to diversify.
“If the situation is not resolved, France will have to find alternative supply sources,” Ciampaglia added. French President Emmanuel Macron has recently made trips to uranium powerhouses Kazakhstan, Mongolia and Uzbekistan in search of new supply partnerships.
Still, consumers are unlikely to feel the effect of these disruptions just yet.
“Most utilities contract for fuel under long-term contracts, so they are unlikely to experience instant sticker shock from current higher prices,” said Jonathan Hinze, President of UxC, adding that he does not see “a hugely detrimental effect on electric utilities and power prices.”
Global offshore wind targets are still strong enough to triple global capacity by 2030, despite the US’s offshore wind stagnation under Trump. A new analysis from energy think tank Ember and the Global Offshore Wind Alliance (GOWA) shows that the rest of the world is charging forward, underscoring confidence in offshore wind as a cornerstone of future clean energy systems.
Based on the latest NHTSA report, Tesla’s ‘Robotaxis’ keep crashing in Austin, Texas, despite ‘safety monitors’ preventing an unknown number of crashes.
Under an NHTSA Standing General Order SGO, automakers are required to report crashes involving their autonomous driving (ADS) and advanced driver assistance systems (ADAS) within five days of being notified of them.
For years, Tesla was only reporting ADAS crashes, since, despite the names of its Autopilot and Full Self-Driving systems, they are only considered level 2 driver assistance systems.
Since the launch of the Robotaxi service in Austin, Texas, where Tesla moved the supervisor from the driver’s seat to the passenger seat, it has now reported its first few crashes under the ADS reporting.
This week, NHTSA has updated its crash report and revealed a 4th crash that happened in September:
Report ID
Incident Date
Incident Time (24:00)
Make
Model
Model Year
Automation System Engaged?
Highest Injury Severity Alleged
Crash With
Roadway Type
Weather
13781-11687
SEP-2025
01:25
TESLA
Model Y
2026
ADS
Property Damage. No Injured Reported
Other Fixed Object
Parking Lot
Partly Cloudy
As we previously highlighted, when it comes to both ADS and ADAS crash reporting, Tesla abuses the redacting capacity and hides most information about its crashes, unlike most of its competitors.
Therefore, we don’t have much information about this new crash, but it reportedly occurred in a parking lot and involved a Tesla Robotaxi crashing into a “fixed object,” resulting in property damage.
What’s most interesting about this crash is that it comes as Tesla released the first bit of data about its Robotaxi program in Austin.
During its earnings call last week, Tesla confirmed that the Robotaxi fleet has traveled 250,000 miles since its launch in late June.
Therefore, Tesla Robotaxi currently crashes at a rate of about once every 62,500 miles. That’s with a safety monitor with a finger on a kill switch, ready to stop the vehicle at all times.
We have no data on how often Tesla’s safety monitors prevent crashes in its robotaxis.
For comparison, the NHTSA report lists 1,267 crashes involving Waymo vehicles. However, Waymo’s robotaxis have covered over 125 million fully driverless miles since inception. That’s a crash every 98,600 miles and without any onboard safety monitor.
Electrek’s Take
That’s the problem with comparing Tesla and Waymo.
At least we can now clearly see that Waymo’s incident rate is much lower than Tesla’s, but that’s with a safety monitor in Tesla robotaxis that prevents an untold number of crashes.
The actual difference could be 10x higher. We simply don’t know. Tesla has always refused to share any data regarding disengagement or intervention rates.
One thing is clear: Tesla is way behind Waymo in autonomous driving safety.
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The WRX STI was axed due to stricter emissions regulations in Europe, leading many to believe it would be replaced with an electric version. Subaru even said it was looking into opportunities for a next-gen STI version, including an electrified model, but said it would not be built on the new WRX platform.
Now, we are getting our first look at the future of STI. Subaru unveiled two new STI vehicles at the Japan Mobility Show on Wednesday, one a battery-electric (BEV) model and the other a gas-powered model.
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Subaru said the EV variant, dubbed the Performance-E STI concept, “represents the future of the Performance Scene, spearheading Subaru’s new generation.”
The Subaru Performance-E STI Concept (Source: Subaru)
The electric hot hatch still features a design that “evokes the brand’s heritage,” but with a bit more flair. Unlike the gas version, the Performance-B STI, the EV debuts a new three-line LED headlight design and sportier silhouette.
According to Subaru, the electric STI is “not just a show car,” it can also be used as a daily driver. The aim was to create a performance car that “would inspire everyday life,” Subaru said, adding that “this packaging is only possible with a battery EV.”
The electric hot hatch is equipped with a cylindrical battery, which offers a lower center of gravity and opens up interior space.
Subaru said the setup results in a 15% lower center of gravity than on its previous vehicles. By optimizing downforce and air resistance, the company claims it will outperform the current Subaru Global Platform.
The electric hot hatch also features a new “next-generation suspension” that lowers the hood height by more than 5% while improving control and responsiveness.
Subaru didn’t reveal any other specifics, but said that it will incorporate “innovative technologies” to offer an intuitive, exhilarating driving experience.
Will we see the electric hot hatch actually come to life? Subaru didn’t confirm it was headed for production, but said it represents the future and spearheads a new generation. When and if we will see an electric Subaru STI remains up in the air for now.
Subaru isn’t the only one jumping into the electric hot hatch craze. Honda revealed the Super-ONE at the Japan Mobility Show today, a compact EV that’s packed with fun features.
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