Last week, Austin, Texas–based nuclear fuel start-up SuperCritical Materials announced that it has secured a license from the Department of Energy for a patented uranium and critical materials adsorbent manufacturing process originally developed by a team led by Pacific Northwest National Laboratory.

SuperCritical aims to use this license to extract uranium from seawater at an industrial scale in the United States and abroad.

This story has been updated to include a July 23 quote from President Trump.

The United States and Saudi Arabia have reached a civil nuclear cooperation agreement that could allow the Middle Eastern country to develop civilian nuclear infrastructure and provide a new commercial market to the U.S. nuclear industry.

On Tuesday evening, the Wall Street Journal first reported that the two sides had reached an agreement with a term of 30 years. Then, Department of Energy Secretary Chris Wright said Wednesday that he and Saudi Minister of Energy Prince Abdulaziz bin Salman had signed the agreement alongside an accompanying bilateral safeguards agreement.

The National Nuclear Security Administration has granted authorization to Consolidated Nuclear Security (CNS) to begin the decontamination and decommissioning work with the Calciner Project (CALP) at the Y-12 National Security Complex, in Oak Ridge, Tenn.

Following up on an agreement that was signed 12 years ago, Australia and India have finalized the details by which Australian uranium will be exported to India for peaceful purposes and under the safeguards of the International Atomic Energy Agency. The Administrative Arrangement to enable the long-term exports was reached at the Third India–Australia Annual Summit, held in Melbourne on July 9. The summit coincided with a meeting between Indian Prime Minister Narendra Modi and Australian Prime Minister Anthony Albanese.

In the latest twist in a long-term, multistep contracting arrangement with the Department of Energy, Centrus Energy has signed a contract to finalize terms of a $900 million DOE task order to expand production capacity for high-assay low-enriched uranium at its American Centrifuge Plant in Piketon, Ohio. The expansion is part of Centrus’s multibillion-dollar capacity expansion that also includes low-enriched uranium.

The new DOE award allows the company to transition its HALEU production cascade to a commercial-scale operation at Piketon. The contract also includes options for as much $170 million in HALEU purchases for DOE missions, for a total contract value of $1.07 billion. Those options are subject to the discretion of DOE.

The end-of-April spot price for uranium was $86.35 per pound, according to uranium fuel provider Cameco. While up slightly from the $84.25 of a month before, it was still lower than the $94.28 spot price at the end of January.

Ur-Energy Inc. announced last week that it has begun in situ recovery (ISR) operations at its Shirley Basin uranium mining site in central Wyoming.

The company, which also operates the Lost Creek ISR project in south-central Wyoming, decided to begin construction at Shirley Basin after making a “go” decision in March 2024. It has said that the combined total annual licensed production and toll processing capacity of Lost Creek and Shirley Basin is 4.2 million pounds U₃O₈.

Nevada-based Eagle Nuclear Energy said it will conduct a 27,000-foot investigative drill program at its flagship Aurora Uranium Project along the Oregon–Nevada border beginning in July.

Uranium Energy Corp. (UEC) has begun production activities at its Burke Hollow in situ recovery (ISR) mining operation in southern Texas after receiving approval from the Texas Commission on Environmental Quality (TCEQ). Uranium from the site will be processed at the Hobson Central Processing Plant, which serves as the hub to five satellite ISR projects (referred to as “spokes”) in the Texas Uranium Belt.

The end-of-March spot price for uranium was $84.25 per pound, according to uranium fuel provider Cameco. This price is down slightly from the $86.95 of a month before, but about $10 lower than the $94.28 spot price at the end of January.

Recent years have seen growing global interest in nuclear energy and rising confidence in the sector. For the first time since the early 2000s, there is renewed optimism about the industry’s future. This change is driven by several major factors: geopolitical developments that highlight the need for secure energy supplies, a stronger focus on resilient energy systems, national commitments to decarbonization, and rising demand for clean and reliable electricity.

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.