The governments of Canada and India agreed to multiple long-term deals this month, extending a partnership that will impact sectors including energy and critical minerals, technology and AI, talent and culture, and defense.

One of the more significant deals is a long-term agreement that would supply nearly 22 million pounds of Canadian uranium concentrate (U₃O₈) to India’s burgeoning nuclear reactor fleet over the next decade.

The end-of-February spot price for uranium was $86.95 per pound, down from last month’s $94.28—which was a two-year high—according to uranium fuel provider Cameco. Though down, this latest spot price is still higher than at any time since the $90.38 that Cameco listed at the end of May 2024.

Canada’s first in situ recovery (ISR) uranium mining operation has been granted final regulatory approval. Toronto-based Denison Mines Corp. announced last week that the Canadian Nuclear Safety Commission has approved the environmental assessment and issued the license to construct a mine and mill for the company’s Wheeler River uranium project, located in northern Saskatchewan’s Athabasca basin. This project, which includes the Phoenix uranium deposit, previously received the necessary provincial approvals.

The end-of-January spot price for uranium was $94.28 per pound, according to uranium fuel provider Cameco. That was the highest spot price posted by the company since the $95.00 per pound it listed at the end of February 2024. Spot prices during 2025 ranged from a low of $64.23 per pound at the end of March to a high of $82.63 per pound at the end of September.

Analyst firm Trading Economics posted a uranium futures value of about $82.00 per pound on January 5—the highest futures value in more than two months.

In late October, it had listed a futures price of about $82.30/lb. By late November, the price had fallen to under $76.00/lb.

The spot price of uranium at the end of November declined to $75.80 per pound, down from $80.00/lb at the end of October, according to uranium company Cameco. The high-water mark this year was in September, at $82.63/lb. The lowest price of 2025 was at the end of March, at $64.23/lb.

As President Trump hosted Saudi Crown Prince Mohammed bin Salman at the White House on November 19, Energy Secretary Chris Wright confirmed that the United States and Saudi Arabia have signed a “historic” deal on cooperation in the civilian nuclear energy sector. The “Joint Declaration on the Completion of Negotiations on Civil Nuclear Cooperation” is seen as an important part to strengthen U.S. influence in the Gulf region to counter the influence of Iran, Russia, and China.

A new type of material has been demonstrated to greatly enhance the ability to recover uranium from seawater, according to a study published recently in Sustainable Carbon Materials. The research, which could lead to a new way of obtaining uranium for nuclear reactor fuel, was conducted by scientists from Weifang University and North China Electric Power University.

An end-of-October spot price for uranium of $80.00 per pound—down from the year high of $82.63 per pound in September—is still substantially higher than the year’s lowest price of $64.23 per pound at the end of March, according to uranium fuel provider Cameco.

British Columbia, Canada–based Anfield Energy has scheduled a ground-breaking ceremony on November 6 at its Velvet Wood uranium and vanadium mine, located in southeastern Utah’s Lisbon Valley. According to Anfield CEO Corey Dias, it will be “more than a ground breaking—it’s a bold declaration of Anfield’s readiness to help fuel the American nuclear renaissance.”

President Trump is in Japan today, with a visit with new Prime Minister Sanae Takaichi on the agenda. Takaichi, who took office just last week as Japan’s first female prime minister, has already spoken in favor of nuclear energy and of accelerating the restart of Japan’s long-shuttered power reactors, as Reuters and others have reported. Much of the uranium to power those reactors will be enriched at Japan’s lone enrichment facility—part of Japan Nuclear Fuel Ltd.’s Rokkasho fuel complex—which accepted its first delivery of fresh uranium hexafluoride (UF₆) in 11 years earlier this month.

The Department of Energy has a plan for private companies to “dispose of surplus plutonium”—about 19.7 metric tons in both oxide and metal forms—by “making the materials available for advanced nuclear technologies.” A Surplus Plutonium Utilization Program request for applications (RFA) issued October 21 describes the plutonium on offer, and the “thresholds” prospective applicants must meet.

Canadian uranium provider Cameco has calculated an end-of-September spot price for uranium of $82.63 per pound—the highest mark of 2025. The lowest spot price listed all year by Cameco was $64.23 per pound at the end of March, while the previous high was $78.50 per pound at the end of June.

The Department of Energy’s National Nuclear Security Administration has awarded BWX Technologies a contract valued at $1.5 billion to build a Domestic Uranium Enrichment Centrifuge Experiment (DUECE) pilot plant in Tennessee in support of the administration’s efforts to build out a domestic supply of unobligated enriched uranium for defense-related nuclear fuel.

Canadian uranium provider Cameco calculated an end-of-August spot price for uranium of $75.13—up from the previous month’s spot price of $71.10. Cameco continues to list a long-term price of $81.00 for August and has set it at $80.00 or $81.00 all year.

Uranium provider Cameco has calculated an end-of-July spot price for uranium of $71.10—a decline from the $78.50 of the previous month. Cameco lists a long-term price of $81.00 for July, which is the same price that was listed in January. From February to June, the long-term price was $80.00.

Uranium futures were about $71.45 per pound on August 4, according to online analysis firm Trading Economics, which noted that continued prices near $71.50 are maintaining the price drop from the seven-month high of $79.00 in mid-June. The relatively low prices are related to a lack of buying from holding funds, which have received lowered bids from utilities. Nevertheless, uranium prices are higher at this point, compared with the $63.70 price in mid-March this year.

Shine Technologies has been developing fusion-adjacent technologies in Janesville, Wis., including nuclear fuel recycling, since its founding in 2005. Standard Nuclear of Oak Ridge, Tenn., was formed just last year but holds a TRISO fuel production technology backed by years of research and development since it acquired Ultra Safe Nuclear’s fuel manufacturing assets after that company’s bankruptcy in October 2024. Now, Shine and Standard Nuclear have announced plans to work together on a “strategic partnership to advance nuclear fuel recycling and U.S. fuel security.”

Uranium provider Cameco has calculated an end-of-June spot price of $78.50 for uranium—a substantial jump from $71.55 the previous month. Cameco continues to list a long-term price of $80.00, a price that has remained unchanged since February.

Urenco USA has initiated production of enriched uranium in its newest gas centrifuge enrichment cascade—the first in a planned expansion of its Eunice, N.M., facility announced in July 2023. When the expansion is complete, early in 2027, the site will have increased its capacity by about 15 percent, adding about 700,000 separative work units (SWU) per year, the company said May 19.

Ur-Energy Inc. has secured approval from the Wyoming Department of Environmental Quality’s Land Quality Division to construct and operate up to six additional mine units at its Lost Creek in situ uranium mine in south-central Wyoming. With that late April approval in hand, “we await only final concurrence and approval of the related aquifer exemption from the U.S. Environmental Protection Agency,” the company said. That approval was granted just three days later, on May 1, but Ur-Energy doesn’t plan to expand Lost Creek for “several years.”