URANIUM Supply Deficit 'Getting Worse' - Price Going 'Much Higher' Ahead

Why It Matters

A widening uranium deficit threatens energy security and could push nuclear fuel prices higher, creating significant investment opportunities in emerging mining jurisdictions.

Key Takeaways

• Global uranium supply deficit projected to reach 200 million pounds by 2040
• New mines face permitting delays, threatening price surge
• Tech giants like Microsoft, Google seek direct nuclear fuel contracts
• South America emerges as untapped uranium frontier for investors
• Spot market contracts now include price floors and ceilings

Summary

The interview on Commodity Culture highlighted a deepening global uranium supply shortfall that is driving prices sharply higher. CEO Steven Gold of Jaguar Uranium warned that the current deficit of 5‑15 million pounds per year could swell to as much as 200 million pounds by 2040, especially as new projects in Kazakhstan, Canada and elsewhere struggle with permitting and financing delays.

Gold explained that utilities and governments are scrambling for long‑term contracts, while the spot market now dominates a minority of deliveries. Contracts are increasingly structured with price floors and ceilings to give miners revenue certainty, but the underlying supply‑demand gap remains acute. Adding to the pressure, large tech firms such as Microsoft, Google and Amazon are seeking direct access to nuclear fuel to power AI data centers, an emerging demand that analysts say could triple by 2028.

The conversation underscored geopolitical nuances: five countries supply roughly 88% of global uranium, and conflicts like the war in Iran complicate imports from Central Asia. Meanwhile, Jaguar Uranium is positioning South America—particularly Argentina and Colombia—as the “last frontier” for new uranium projects, leveraging legacy mines and supportive government policies to revive domestic production.

For investors and energy planners, the message is clear: uranium prices are likely to climb further as supply constraints tighten and new demand from AI‑driven power loads materializes. Companies that can secure early-stage projects in under‑explored regions such as South America may capture outsized upside, while utilities must hedge against rising costs and geopolitical risk.

Original Description

Steven Gold, CEO of Jaguar Uranium (NYSE American: JAGU) points out the rapidly increasing supply deficit for uranium, as legacy mines face production challenges, utilities scramble to secure pounds, and the AI arms race accelerates, driving demand to levels the current market simply cannot meet. Steven explains how Jaguar Uranium fits into the picture, with their portfolio of uranium projects in Argentina and Colombia.

Jaguar Uranium Website: https://jaguaruranium.com

Follow Jaguar Uranium on X: https://x.com/jaguaruranium

Disclaimer: Commodity Culture was compensated by Jaguar Uranium for producing this interview. Jesse Day is not a shareholder of Jaguar Uranium. Nothing contained in this video is to be construed as investment advice, do your own due diligence.

00:00 Introduction

00:33 Current Catalysts For Uranium

03:14 Activity in Long Term Market

07:32 Where is the Uranium Coming From?

10:04 How Much Does AI Play a Role?

11:48 Overview of Jaguar Uranium

15:29 Argentina and Columbia Pro Mining?

19:14 Main Projects

23:00 Rare Earths Strategy

24:33 Upcoming Catalysts For Jaguar Uranium