NO major commodity had a worse 2016 than uranium. In fact, the element used to make nuclear fuel has had a pretty dismal decade. Prices tumbled 41 per cent last year, touching a 12-year low below US$18 a pound in November, according to Ux Consulting Co, which compiles market data. The slump was the seventh in nine years. The rise of nuclear power has slowed as utilities shifted to cheaper natural gas for new generators. And after the 2011 Fukushima disaster, safety concerns led big uranium buyers including Japan and Germany to shut down or decommission reactors.
"It's the world's best asset in the world's worst market," said Leigh Curyer, chief executive officer of NexGen Energy Ltd, a Vancouver-based...
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