Nexus Uranium: Securing America’s Nuclear Fuel Supply and Energy Independence

Summary

Uranium prices have reset from the low $20s toward the mid-to-high $80s, and rising prices should unlock the new mine supply utilities need.

US power demand is growing 3-4% a year after decades of flat consumption, and the guest argues nuclear must cover most of the gap.

Permitting for Nexus Uranium's South Dakota project (just under 3 million pounds of uranium) stalled on an injunction a judge has since thrown out.

ISR (in-situ recovery — leaching uranium underground through wells) skips mills and large pits, cutting capital and operating costs on the way to production.

Drill-ready South Pass in Wyoming and a newly acquired high-grade Arizona Strip portfolio advance in parallel while South Dakota permitting resolves.

Jeremy Poirier's takeaways

Top takeaway He argues that US energy demand, flat for decades, is now growing 3-4% a year, and that nuclear — existing plants, new builds, and small modular reactors — must supply the largest share of that growth.

He expects the uranium price — around the mid-to-high $80s as of the June 2026 interview after moving from the low $20s to over $100 — to go higher, and says sustained higher prices are needed to bring on sorely needed new mine supply.

He champions in-situ recovery mining, noting it produces over 60% of global and over 90% of US uranium, with no milling, far less land disturbance, and simpler remediation than underground or open-pit mining.

He expects North American uranium projects to keep commanding a premium as the US codifies uranium as a critical mineral and bans Russian imports, though he notes much production still comes from Russia and Kazakhstan.

He says the current US administration is supportive of uranium mining and that this makes it a good time to be advancing US-based projects.