Iran war could spark new wave of nuclear reactor construction, says Cameco

Agustín de Vicente / Mayo 2, 2026 | 

The uranium giant sees rising demand driven by energy security, AI power needs and global decarbonization efforts.

The ongoing conflict in Iran could trigger a new wave of nuclear reactor construction similar to the buildout seen after the 1970s energy crisis, according to Cameco.

Grant Isaac, president and chief operating officer of the company, said the current geopolitical environment is creating strong momentum for nuclear energy, driven by concerns over energy security, climate goals and national security.

Echoes of the 1970s energy crisis

More than 40% of today’s nuclear reactors were built in response to the 1973 oil embargo led by OPEC, according to the International Energy Agency.

Countries such as France, Japan, South Korea and the United Kingdom accelerated nuclear construction programs at the time to reduce reliance on fossil fuels.

Isaac said a similar dynamic is emerging today, as governments seek reliable, 24/7 carbon-free power sources.

Uranium demand set to surge

Cameco, operator of the high-grade McArthur River mine in Canada, produces about 15% of global uranium supply and ranks as the world’s second-largest producer after Kazatomprom.

Industry forecasts suggest global uranium demand could triple by 2040, while current consumption already exceeds annual production by 50 to 60 million pounds.

AI and data centers drive electricity demand

Demand for nuclear energy has been rising even before the Iran conflict, fueled by the expansion of data centers and artificial intelligence infrastructure, which require large and stable power supplies.

In the United States, government support has helped accelerate nuclear development, including fast-tracking uranium projects and extending the life of existing reactors such as Diablo Canyon in California.

India emerges as a key growth market

Cameco is also expanding its footprint in India, where nuclear capacity is expected to grow significantly.

The company signed a deal in March to supply nearly 22 million pounds of uranium concentrate over nine years in a contract valued at about $1.9 billion.

Through its 49%-owned joint venture with Westinghouse Electric, Cameco is also positioned to participate in new reactor construction projects in India and other markets.

Tight supply and rising prices

Uranium market fundamentals remain tight, with supply constraints and growing demand pushing prices higher.

Spot uranium prices are currently around $86 per pound, roughly one-third higher than a year ago, while long-term contract prices are nearing $90.

Strategic role of nuclear energy

The renewed focus on nuclear power reflects a broader shift in global energy strategy, where reliability, decarbonization and energy independence are becoming increasingly important.

For the mining sector, this trend reinforces uranium’s role as a critical mineral in supporting the energy transition and meeting the growing electricity demands of a digital and electrified economy.

The war on Iran will speed the transition away from fossil fuels and toward nuclear energy, creating strategic challenges for the United States

By Rachel Bronson | Analysis | March 13, 2026

BULLETIN OF ATOMIC SCIENTISTS

View looking north showing the Strait of Hormuz, connecting the Gulf of Oman with the Persian Gulf, with the Zagros Mountains and Qeshm Island of Iran in the background, and areas of Oman, Muscat and the United Arab Emirates in the foreground, as seen from the Space Shuttle Columbia in 1992. (Photo by Space Frontiers/Archive Photos/Hulton Archive/Getty Images)

One of the biggest surprises following the US-Israel attacks on Iran was how quickly Iran targeted Persian Gulf energy infrastructure. In the early hours of the fighting, energy analysts were relatively optimistic that global markets could weather a short-lived conflict. This optimism was based on past fighting between Israel and Iran that avoided energy infrastructure and a “loose” (that is, well-supplied) oil market. The expectations proved wrong.

Within hours of the start of what American planners dubbed “Operation Epic Fury,” Iran began targeting the critical energy infrastructure of its Arab neighbors. Iran attacked Ras Tanura, Saudi Arabia’s largest domestic oil refinery, and Ras Laffan and Masaieed, Qatar’s major liquified natural gas production and export facilities. A senior Iranian advisor claimed that any vessel attempting to transit the Strait of Hormuz, where 20 percent of the world’s oil and gas passes each day, would be set on fire. Skittish about traveling through the Gulf, ships began stacking up at its entrance, resulting in what Helima Croft, the global head of commodity strategy at RBC Capital Markets, described as a “parking lot.” Subsequently, Israel attacked oil depots in Tehran, shrouding the Iranian capital in smoke.

The energy bottlenecks caused by the fighting will likely accelerate a global energy transition that is already underway, as countries seek to diversify their energy imports and broaden out supply chains. Perhaps surprisingly, given that the attacks were undertaken to eliminate Iran’s nuclear program, the conflict will likely hasten the adoption of nuclear power programs globally—even in conflict-prone areas. A nuclear resurgence will bring hard questions, especially for the United States, which risks ceding ground to Russia and China if it fails to act.

The nuclear renaissance. Even prior to the current conflict, nuclear power had been experiencing a global renaissance. The International Atomic Energy Agency estimates that the world’s nuclear power capacity could more than double by 2050. Last month, Japan restarted the world’s largest nuclear power plant (by installed capacity), a plant that had been shut since the 2011 accident at Fukushima Daiichi. France, Europe’s nuclear superpower, has reversed plans to reduce its reliance on nuclear power from 70 to 50 percent. Elsewhere in Europe, Italy has ended its 40-year moratorium on nuclear power, Belgium reversed its phase-out policy, and Denmark, Switzerland, and even Germany are considering overturning their bans on civilian nuclear power. Poland is developing its first nuclear power plant, aiming to become operational in 2036.

Such developments are hardly limited to Europe. Over the past 10 years, China has connected more than 20 nuclear reactors to its energy grid, with an additional 23 under construction, adding the nuclear power capacity that it took the US four decades to build. In the United States, the president has allocated billions of dollars to new nuclear funding, and at least five states have eased regulations to facilitate nuclear plant extensions and new builds.

Nuclear power has considerable appeal. It can help overcome the storage challenge posed by renewables such as wind and solar and stabilize energy grids on windless or cloudy days, and it is considerably more efficient than renewables in terms of land use, capacity, and conversion. It is also a cleaner alternative to coal and natural gas.

In the Middle East, the United Arab Emirates’ Barakah plant is responsible for 25 percent of the UAE’s electricity. Turkey is finalizing construction of its Akkuyu plant, which will provide 10 percent of Turkey’s energy by the end of 2028, with Russia as its key partner. Egypt is also partnering with Russia on a nuclear plant that is expected to provide for 10 percent of its energy beginning in 2028.

Saudi Arabia and the United States are in active conversations about launching a nuclear power program. Unlike the UAE, Turkey, and Egypt, Riyadh is pushing for uranium enrichment capabilities. Saudi Arabia and the UAE are also investing in nuclear power projects in Pakistan and India, respectively.

There are at least three key drivers of the nuclear renaissance: political volatility; the need for energy-intensive data centers to power AI’s future; and increasing energy demands in emerging, often energy-poor economies. Notably, political volatility is driving a more intense rather than cautious approach to nuclear power. Russia’s 2022 invasion of Ukraine focused leaders on the vulnerabilities of energy interdependence with potential adversaries. Today’s conflict in the Gulf will only deepen that lesson: In the first hours of the fighting, Qatar shut down its natural gas facilities and Israel shut down its Tamar and Leviathan fields, which export gas to Egypt and Jordan. A second driver is the surge in AI-linked energy demand: data centers require vast, reliable baseload power that intermittent renewables alone cannot provide. Third, fast-growing economies across Asia, Africa and the Middle East are seeking energy-intensive solutions that can scale without dependence on imported fossil fuels.

This nuclear renaissance is part of a broader worldwide energy transition. Oil and gas are expected to fulfil only about 50 percent of the globe’s increasing demand, with wind and solar growing faster than all other renewables to make up most of the difference. Nuclear power, a reliable source of baseload power, will fill the rest—but it brings with it greater risks, including accidents, military targeting and weaponization. One only needs to consider the difficulties Japan is facing in recovering from the 2011 accident to be reminded of the extent of the stakes involved.

Nuclear power programs create long-term geopolitical relationships because of their considerable expense and fuel and waste management requirements. Civilian nuclear programs create decades-long political relationships that benefit the global partners that build and service the plants. Currently, Russia and China are significantly more active in advancing nuclear power partnerships. The United States, once the leader in reactor design and export, has let its own industry atrophy. This will become a political liability unless America can quickly catch up to its global rivals.

When the Zaporizhzhia nuclear power plant was attacked in 2022, European capitals faced a stark decision about how to balance the potential vulnerability of nuclear power plants with the dependence on an aggressor’s fossil fuels. They opted to diversifying away from overdependence on Russian gas and toward nuclear power. Moving forward, others are likely to follow suit.

Some Europeans had hoped that substituting US for Russian gas imports could help them avoid the choice. But tensions over Greenland, NATO, and Ukraine have led European capitals to question the wisdom of relying on the US for energy as well. It is with this in mind that German Chancellor Friedrich Merz concluded that his country’s recent nuclear phase-out was a “strategic mistake.” The open question is whether the United States will help shape this new nuclear future—or be left out of it.

Questions for US leadership. There is good reason for the US to reinvest in its nuclear industry. Increasing energy demands at home are changing domestic incentives and fueling new interest in nuclear power and next-generation reactors. Global markets will be strong given the drivers discussed above.

But perhaps more important are the geopolitical relationships the United States will forego if it opts out of the nuclear renaissance. Energy corridors beget trade corridors, energy conduits accompany data conduits, and energy systems now include an ecosystem of supply chains, sophisticated financing, critical minerals, chokepoints, and investments. Such interconnections offer new areas of political influence. This is why Fatih Birol, the executive director of the International Energy Agency, said at the World Economic Forum in 2026 that “energy security … should be elevated to the level of national security.”

Nuclear plants run for 40 and in some cases 80 years and bring with them ongoing incentives. Washington should be concerned that Russia is deeply investing in the critical energy infrastructure of traditional US allies such as Egypt and Turkey. The United States cannot afford to concede such ties to Russia and China.

But questions confronting Washington’s future leadership are many:

Can it compete on safety? For example, can the United States catch up to global rivals in terms of building and exporting nuclear plant designs without sacrificing its global reputation for safety? President Trump has signed multiple executive orders to cut regulations, speed approvals, and reduce the bureaucratic hurdles that have stifled the industry. Some of these changes are welcomed. But the orders have resulted in slashing staffing and expertise in and the independence of the US Nuclear Regulatory Commission. Such orders have the potential to undermine the United States’ hard-won reputation for world-class safety standards—a key incentive to partnering with the United States in the first place.

What concessions will it have to make? The United States and Saudi Arabia, for example, have tussled for years over the Kingdom’s desire for domestic uranium enrichment. It would be ironic, to put it mildly, if the US attack against Iran to eliminate its nuclear program was followed by an agreement with Saudi Arabia that permitted enrichment. But Saudi Arabia will have significant leverage over the United States as it is offering to heavily invest in America’s domestic nuclear program. The Saudis will also likely demand something from the United States for initiating Operation Epic Fury without serious consideration of its effect on Iran’s Gulf neighbors.

Can it secure the supply chain? The United States cannot directly help reduce supply chain bottlenecks associated with nuclear power, particularly when it comes to fuel sources such as uranium. But it can make things worse. Russia is the dominant global provider of processed uranium, and the nuclear renaissance will heighten its role globally. Canada and Australia are major providers as well. Washington’s recent diplomatic scuffles with those countries hardly seem wise in this context. Prioritizing relations with uranium-rich countries beyond Russia would be a smarter approach.

Can it protect what it builds? Russia surprised everyone in 2022 when it targeted and seized the Zaporizhzhia nuclear power plant in Ukraine, Europe’s largest. That attack highlights new security vulnerabilities as nuclear power plants—including, one day, small modular reactors—expand. It will not be lost on planners that during the opening days of the US-Israel attack, an Iranian military official threatened that Iran would target the Israeli nuclear site of Dimona if Israel and the US seek regime change in Iran, a goal that President Trump has advocated.

Finally, the collapse of the 50-year nuclear arms control architecture has important consequences for trust in the future of nuclear power. Multilateral organizations such as the International Atomic Energy Agency help provide expertise and transparency and resulting confidence that civilian nuclear programs do not become gateways for weaponization. As nuclear agreements wither and multilateral organizations are undermined, significant uncertainty and risk are added to the unfolding nuclear renaissance.

Operation Epic Fury will accelerate the global energy transition, including to nuclear power. The US-Israel attacks and Iran’s response will reshape energy decisions globally. The war has highlighted the vulnerability of relying on gas and oil exports from a conflict-prone part of the world. It will further compel leaders to invest in new sources of energy including renewables and nuclear power. The trend was already underway after Russia’s attack on Ukraine. Operation Epic Fury will reinforce it.

But the drive towards civilian nuclear power brings unique challenges—not least the deep public fear of accidents and leaks, and the ever-present risk of weaponization. As energy historian Daniel Yergin has warned, this conflict could represent the biggest disruption in oil production in history. The desire for energy diversification will only intensify in its wake. The United States should want to lead that future. But to do so, it must answer some hard questions—about safety, partnerships, supply chains, and security—before rivals like Russia and China answer them first.

 

World Nuclear News

Canada announces new nuclear strategy and microreactor initiative

Thursday, 30 April 2026

Minister of Energy and Natural Resources Tim Hodgson has announced the government's intention to release a "transformative" Nuclear Energy Strategy for Canada before the end of the year - and will also invest millions of dollars to assess the potential of a Canadian-controlled microreactor that could provide heat and electricity to remote and northern defence-related facilities and operations.
 

(Image: Canadian Nuclear Association)

Hodgson made the announcement at the Canadian Nuclear Association Conference, which taking place in Ottawa from 28-30 April. 

Citing the endorsement by 38 countries of the goal of at least tripling global nuclear capacity by 2050, Hodgson said this was a time of opportunity for Canada to grow its nuclear industry to achieve energy affordability and security at home while seizing the global opportunity of an industry that is expected to grow by up to CAD200 billion (USD146 billion) per year by 2030.

The strategy, which is being developed by Natural Resources Canada (NRCan), will build on four pillars: Enabling New Builds Across Canada; Being a Global Supplier and Exporter of Choice; Expanding Uranium Production and Nuclear Fuel Opportunities; and Developing New Canadian Nuclear Innovations (including fission and fusion).

The first pillar - enabling new nuclear builds - focuses on "building big at home in both small- and large-scale nuclear", Hodgson said. "To do this, we must derisk nuclear investments, facilitate private and public financing, advance Indigenous partnership and prioritise projects that make economic and strategic sense."

Under the second pillar - positioning Canada as a global supplier and exporter - the minister said Canada was "assertively pursuing a nuclear energy trade strategy that will target priority markets and support Canadian players at all levels of the supply chain as they look abroad", leveraging "all arms of government, including the Trade Commissioner Service and Export Development Canada, to tailor our export goals to key markets with the highest chance for success".

The third pillar will see Canada "make the most" of its uranium resources domestically, "in order to reliably meet the needs of allies’ nuclear fleet expansion with Canadian uranium".

The fourth pillar will focus on next-generation innovation, "whether for power - such as SMRs, microreactors - or other areas, like fusion", Hodgson said.

"We are focused on nuclear energy security and innovation from coast to coast to coast. But perhaps there is nowhere it is needed more than in our North, where bills are highest, energy security is most fragile and sovereignty is increasingly important," Hodgson said. In recognition of this, Canada's Defence Industrial Strategy prioritises the North, including for new, dual-use infrastructure, he said.

"Of course, that infrastructure needs power. Ideally, power that is clean, reliable and Canadian. That is why, today, I am announcing a new joint feasibility programme with the Department of National Defence and Atomic Energy of Canada Limited that will assess the potential of Canadian-controlled microreactor technology in the North.

"The Department of National Defence is investing over CAD40 million this fiscal year to examine whether next-generation microreactors can safely and reliably provide heat and electricity for remote and northern DND and Canadian Armed Forces facilities. Importantly, while this work supports defence and sovereignty in remote regions, it also has broader civilian potential and could support remote communities and other industrial sites looking for clean, dependable power."

Recognising the underpinning role of science, research, technology and innovation for these plans, the minister noted the federal government's commitment of CAD2.2 billion over 10 years in capital investments at the Chalk River Laboratories, Canada's national nuclear labs, including the new Advanced Materials Research Centre and other critical infrastructure across the campus. 

"Nuclear energy is central to our future, whether you are talking about our economy, our security, our climate or our role in the world," he said. "The scale of the global opportunity is massive, but it is not one by which we should be intimidated."

Today, 17 CANDU reactors in Ontario and New Brunswick generate about 13% of Canada's electricity and the nuclear energy sector adds CAD22 billion annually to the Canadian economy, according to NRCan. The nation produced about 24% of total global uranium output in 2024. About 90% of its uranium production is exported to fuel nuclear power plants.

Darlington SMR project's foundation module milestone

Friday, 1 May 2026

The giant Basemat module, which will serve as the foundation of the reactor building for the first small modular reactor to be built in a G7 country, has been set into place 35 metres below ground in the excavated reactor building shaft.
 

(Image: OPG)

Weighing in at close to 953 tonnes (2.1 million pounds) - more than the weight of three Airbus A380 aircraft - and with a diameter of 37 metres, the Basemat is the foundation for the integrated reactor building and containment structure. It was fabricated, welded, and put together in one piece before being lifted into place by one of the world's largest crawler cranes. This is the first time in Canada that a foundation for a reactor building has been assembled modularly, "putting the 'M' in SMR", according to Ontario Power Generation (OPG).

For conventional large-scale nuclear power plants, the pouring of the first concrete for the reactor's basemat is usually taken as marking the point at which a project becomes a nuclear power unit under construction.

The Basemat module features components made of Diaphragm Plate Steel Composite, an innovative and ground-breaking modular steel-concrete material, which were produced by OPG and its partners, with the help of skilled trades from across Ontario.

The Province of Ontario approved OPG to begin construction of the first of four GE Hitachi BWRX-300 small modular reactors (SMRs) planned at the Darlington New Nuclear Project site in May 2025, weeks after the Canadian Nuclear Safety Commission (CNSC) issued a construction licence. Early site preparation works began in the autumn of 2022 and were completed in early 2024, clearing the way for main preparation works to begin. The company recently submitted its application to the CNSC for a licence to operate the plant: it plans to connect the first unit to the grid by the end of 2030.

The basemat was lifted into place in a precision operation (Image: OPG)

Building the chain

Alongside the basemat lift, the Ontario government announced that more than 100 Canadian companies have now signed on to the supply chain to support SMR builds, with the recent addition of 16 new Ontario-based companies and six companies from Quebec and Alberta. Recently awarded contracts include Walters Group, which has been awarded a CAD44.5 million (USD32.8 million) contract for structural steel; Marmon Industrial Water, with a CAD17.8 million contract for a condensate purification package; Tractel, with a CAD9.9 million contract for the reactor building weather enclosure; and Hooper Welding, awarded a CAD8.8 million contract for sampling and collection tanks.

"Ontario just executed with great precision the first foundation of a new nuclear reactor in Ontario in over 30 years," Ontario Minister of Energy and Mines Stephen Lecce said. "This is a major achievement as the world turns to Ontario to refurbish and build large scale nuclear on-time and on-budget."

The SMR supply chain is "infusing" more than CAD500 million into Ontario's economy, Lecce added: "Our government is deeply committed to building more in Canada, which is why we are proud to invest at least 80 per cent of every dollar in the Canadian supply chain."

"With the foundation of the first small modular reactor at the Darlington New Nuclear Project in place, we are now able to begin building up, with the project team now advancing construction on the reactor building's structure, internal systems and components," said Nicolle Butcher, OPG President and CEO. "This was a milestone months in the making, requiring significant attention to detail and safety, as well as the hard work of dedicated trades and project partners from across Ontario."

Belgian government in talks to take over nuclear power plants

Thursday, 30 April 2026

The Belgian government has begun talks to take direct ownership of the country's seven nuclear power reactors - with all decommissioning and dismantling works suspended "to ensure that all options remain available to the Belgian State".
 

The Doel plant (Image: Tractebel-Engie)

Engie, the French parent of Belgian power company Electrabel, and the Belgian government said their Letter of Intent covers a proposed transaction which "encompasses the full scope of the nuclear activities currently owned and operated by Engie and Electrabel and their affiliates, including the complete nuclear fleet of seven reactors, the associated personnel, all nuclear subsidiaries, as well as all associated assets and liabilities, including decommissioning and dismantling obligations".

The joint statement said: "This initiative reflects the Belgian Government's strategic decision to assume direct ownership of the country's nuclear assets, in line with its ambition to extend the operation of existing nuclear reactors and to develop new nuclear capacity in Belgium. By doing so, the Belgian Government is taking responsibility for Belgium's long-term energy future, with the objective of building a financially and economically viable activity that supports security of supply, climate objectives, industrial resilience and socio-economic prosperity."

The two sides "will negotiate in good faith with the objective of concluding heads of terms by 1 October 2026". The Letter of Intent does not constitute a binding commitment - the completion "remains subject to, among other things, the negotiation and execution of definitive agreements and the required third-party and regulatory approvals".

Background

Belgium's federal law of 31 January 2003 required the phase-out of all seven nuclear power reactors in the country. Under that policy, Doel 1 and 2 were originally set to be taken out of service on their 40th anniversaries, in 2015. However, the law was amended in 2013 and 2015 to provide for Doel 1  and 2 to remain operational for an additional 10 years. Doel 1 was retired in February 2025. Doel 3 was closed in September 2022 and Tihange 2 at the end of January 2023. Tihange 1 was disconnected from the grid on 30 September 2025. The fifth closed unit, Doel 2 in the Flanders region, was taken offline for the final time after 50 years of operation and disconnected from the grid in December.

Belgium's last two operating reactors - Doel 4 and Tihange 3 - had also been scheduled to close at the end of 2025. However, following the start of the Russia-Ukraine conflict in February 2022 the government and Electrabel began negotiating the feasibility and terms for the operation of the reactors for a further ten years, to 2035. A final agreement was reached with a balanced risk allocation - equal ownership of Doel 3 and Tihange 4 between the Belgian state and Engie, and the transfer of nuclear waste liabilities from Engie to the Belgian state for EUR15 billion (USD16 billion) payable in two instalments.

For the continued operation of Doel 4 and Tihange 3, Electrabel had to submit an extensive LTO (Long Term Operation) file with safety studies and an action plan to further increase the safety of the youngest reactors. This file was submitted in December 2024 for both units. Tihange 3 was taken offline on 5 April 2025 for a so-called 'LTO overhaul' - an extensive inspection and maintenance period with a view to safe long-term operation of the reactor. After a thorough analysis, regulator FANC and its technical subsidiary Bel V determined that the reactor meets the conditions for a safe restart and the 1020 MWe PWR resumed operation on 10 July. Doel 4 was taken offline on 30 June for its LTO overhaul and was restarted on 8 October.

In February 2025, Belgium's new coalition government announced plans to operate the two units for a further 10 years beyond 2035. In May 2025, Belgium's federal parliament voted by a large majority to repeal the 2003 law which set out a phase-out of nuclear power and ban on the construction of new nuclear generating capacity. 

Tangerine peel's radiation health benefits researched

Friday, 1 May 2026

The Korea Atomic Energy Research Institute has signed a technology transfer agreement with Arinus Co for a technology that protects cells from radiation using an antioxidant ingredient contained in citrus fruit peel.
 

(Image: Andrii/Adobe Stock)

Sang-Hyun Park's team at the institute's Advanced Radiation Research Institute identified the efficacy of the antioxidant - hesperidin - in restoring liver, heart and kidney tissues damaged by radiation.

Korea Atomic Energy Research Institute (KAERI) said that the research team had found that "when hesperidin was administered for seven days to mice with reduced liver enzyme function due to radiation exposure, enzyme function recovered by more than 90%. In addition, they demonstrated both preventive and therapeutic effects by proving that normal function was restored even when hesperidin was prescribed in advance of radiation irradiation".

(Image: KAERI)

The technology transfer also includes the means of "extracting high-purity hesperidin from tangerine peels using radiation fusion technology ... previously, high-purity extraction was difficult due to pesticide residues remaining on the tangerine peels, but the research team developed a new extraction technique that uses radiation to destroy pesticide residues while maximising hesperidin content".

(Image: KAERI)

Jeong Byeong-yeop, Director of the Advanced Radiation Research Institute, stated: "The institute's world-class technological capabilities will serve as a win-win model leading to the product competitiveness of small and medium-sized enterprises."

The technology transfer was carried out with the support of the Ministry of Science. Arinus Co is a specialised manufacturer of health-focused products and plans to use the technology in health supplements and products for patients undergoing radiation therapy.

Fuel loading begins at Changjiang 3

Friday, 1 May 2026

The initial loading of fuel assemblies into the core of unit 3 at the Changjiang nuclear power plant is under way. It is the first of two Hualong One (HPR1000) reactors under construction as the second phase of the site in China's Hainan province.
 

(Image: CNNC)

The first of 177 nuclear fuel assemblies was loaded into the reactor on 30 April, China National Nuclear Corporation (CNNC) announced.

"This marks the official entry of unit 3 of the Hainan Changjiang Nuclear Power Plant into the nuclear commissioning phase, laying a solid foundation for the subsequent grid connection and power generation target, and taking a crucial step forward," the company said. "After fuel loading is completed, the project construction team will continue to uphold the core concept of 'pursuing excellence' and strictly follow technical specifications and quality standards to advance the subsequent commissioning work, ensuring that the unit is put into operation with high quality as planned."

(Image: CNNC)

First concrete was poured for the base slab of unit 3's nuclear island in March 2021, with that of unit 4 being poured in the December of that year. 

Cold hydrostatic testing - carried out to confirm whether components and systems important to safety are properly installed and ready to operate in a cold condition - were completed in April last year. These were followed by hot functional tests, which involved increasing the temperature of the reactor coolant system and carrying out comprehensive tests to ensure that coolant circuits and safety systems are operating as they should.

Changjiang Phase II - units 3 and 4 - represents a total estimated investment of CNY40 billion (USD6.4 billion), according to China Huaneng, which holds a 51% share in the project, with CNNC holding the remaining 49%. The construction period is expected to be 60 months. Both Hualong One units are scheduled to be fully operational in early 2027.

The Changjiang nuclear site is already home to two operating CNP-600 pressurised water reactors (PWRs) - Changjiang 1 and 2 - which entered commercial operation in 2015 and 2016, respectively. In 2021, CNNC also began construction of a demonstration ACP100 small modular reactor at the site. The multi-purpose 125 MWe PWR - also referred to as the Linglong One - is designed for electricity production, heating, steam production or seawater desalination.

 

Second Indian fuel cycle complex gets operating licence

Friday, 1 May 2026

The Atomic Energy Regulatory Board has issued an operating licence for the NFC-Kota fuel plant at Rawatbhata in Rajasthan.
 

NFC-Kota (Image: DAE)

The Nuclear Fuel Complex (NFC) is an industrial unit of India's Department of Atomic Energy (DAE) which manufactures fuel for India's pressurised heavy water reactors in its safeguarded facilities at Hyderabad. According to World Nuclear Association information, the Hyderabad facilities produce 1500 tonnes of pressurised heavy water reactor (PHWR) fuel per year, as well as about 25 tonnes of fuel per year for India's two small boiling water reactors at Tarapur.

NFC-Kota is a second PHWR fuel plant which is being set up to meet the needs of India's planned fleet of indigenously designed 700 MWe PHWRs, three of which - Rajasthan Atomic Power Project unit 7 and Kakrapar units 3 and 4 - are already in operation.

The Kota facility handles only natural uranium and is categorised as a low-hazard facility, according to the Atomic Energy Regulatory Board (AERB).

NFC-Kota submitted its application for an operating licence for the facility to the AERB on 17 March after the completion of hot commissioning activities, proposing the production of 500 tonnes per year of finished UO2 (uranium dioxide) fuel bundles for use in 700 MWe PHWRs.

"AERB conducted safety review and assessment of NFC-Kota's application for Licence for operation following its established consenting process to check completeness of the data/information required and compliance to the corresponding operating license requirements specified in applicable regulatory safety documents … the proposed activity of Operation can be carried out in compliance [with] this licence without undue risk to workers, the public and the environment," the regulator said.

The Department of Atomic Energy said operational clearance for NFC-Kota was a milestone which "marks a decisive step in strengthening the nation’s nuclear fuel cycle", meaning NFC is now "fully geared" to supply nuclear fuel for Nuclear Power Corporation of India Ltd's 700 MWe indigenous PHWRs. "NFC has been consistently delivering nuclear fuel and core structural components for all operating PHWRs since inception. Aligned with India’s Nuclear Energy Mission, NFC-Kota stands as a testament to indigenous capability, resilience, and the nation’s commitment to reliable, clean, and self-reliant energy for a ViksitBharat," it said.

Viksit Bharat is the strategy launched by the government in 2023 to make India a developed nation by 2047.

The operating licence is valid until 30 April 2031.

TerraPower starts building first utility-scale advanced nuclear power plant in the US

Staff Writer | April 29, 2026 | 

Image from TerraPower.

Bill Gates-backed TerraPower has started construction on its flagship Natrium plant in Kemmerer, Wyoming, which it says is on track to be the first utility-scale advanced nuclear power plant in the United States.

The news follows the issuance of a construction permit by the US Nuclear Regulatory Commission (NRC), and is the culmination of years of innovation, engineering and disciplined site preparation, the company said.

The plant features a 345-megawatt (MW) sodium-cooled fast reactor with an integrated molten salt-based energy storage system. According to TerraPower, the storage technology — known as Natrium — can boost energy output to 500 MW of power when needed, equivalent to the amount of energy needed to power around 400,000 homes.

The energy storage capability is designed to keep base output steady, ensuring constant reliability, and can quickly ramp up when demand peaks, TerraPower said, noting that Natrium is the only advanced reactor design with this unique feature.

“This is the moment our industry has been working toward for a generation. We’re not just breaking new ground on a first-of-a-kind nuclear plant in Wyoming; we’re building the next generation of America’s energy infrastructure,” TerraPower CEO Chris Levesque said in an April 23 news release.

“The Natrium plant will deliver reliable and dispatchable power to the grid, and Kemmerer Unit 1 serves as a commercial blueprint to mobilize a fleet of Natrium plants across the country and around the world.”

TerraPower is mobilizing a workforce of roughly 1,600 workers to begin plant construction, bringing the first Natrium reactor and energy storage system one step closer to fruition.

“The start of construction on TerraPower’s Natrium plant in Kemmerer marks a major milestone not just for Wyoming, but for the future of American energy,” said Wyoming Governor Mark Gordon.

“Wyoming has long powered this country, and today we are leading again, this time in next-generation nuclear technology. This project reflects our commitment to reliable energy, good-paying jobs, and a future built on innovation and Wyoming values.”

The first Natrium plant is being developed through the US Department of Energy’s Advanced Reactor Demonstration Program (ARDP), a public-private partnership. When complete, the project will be the first utility-scale advanced nuclear power plant in the country and Wyoming’s first-ever commercial nuclear generating station.

The project has been under active development since TerraPower broke ground on the greenfield site in June 2024 and began construction on non-nuclear support facilities.

The Bellevue, Washington-based TerraPower is rapidly commercializing the Natrium technology, which includes an agreement with Meta for up to eight Natrium plants by 2035.

 

Glencore expects DRC cobalt exports to normalize in line with 2026 quotas

Reuters | April 30, 2026 | 

Mutanda mine. Image source: YouTube

London-listed miner Glencore said on Thursday it expects cobalt exports from the Democratic Republic of Congo to normalize over the course of the year, in line with remaining 2026 quotas.

Congo’s government suspended exports in February last year to support cobalt prices which had dropped to nine-year lows. The suspension remained in place until Congo introduced export quotas last October.

Cobalt metal prices have increased 160% since February 2025 to $26 a lb. or $57,320 a metric ton due to shortages created by Congo’s move to restrict exports.

Glencore’s quota for 2026 and the allocation carried over from 2025 is 22,800 tons.

Glencore overall produced 5,800 tons of cobalt in the first quarter of 2026, down 39% from the same period last year.

The quota system for DRC cobalt exports will apply until at least the end of 2027, the miner and commodity trader said in its first-quarter production report.

Cobalt produced at its Kamoto Copper Company (KCC) and Mutanda operations above allocated quotas is being stored in-country and will be sold as circumstances allow.

Glencore said it is postponing final cobalt processing to avoid costs while export limits restrict sales.

KCC and Mutanda have sufficient cobalt inventories on hand to utilise their near-term export quotas.

Glencore added the DRC government extended the validity of producers’ 2025 cobalt export quotas to April 2026 to allow for the time required to implement the new export processes.

During the first quarter, the company exported most of its 2025 quota, with the balance shipped in April. Unused first-quarter 2026 quotas remain valid until the end of June.

(By Pratima Desai; Editing by Keith Weir)

WAIT, WHAT?!

Trump’s mineral reserve plans to buy rare earths from China

Bloomberg News | April 30, 2026 | 

Shelves of PrNd oxide, the primary final product produced at MP Materials. Credit: MP Materials

The US Export-Import Bank’s proposed stockpiling initiative would initially source critical minerals from anywhere in the world, including China, an official involved in the project has revealed.

The $12 billion Project Vault would later shift to a replenishment model that prioritizes domestic production first, followed by allied nations and other sources as a last resort, executives including Ex-Im chief banking officer Brian Greeley said Wednesday unveiling some of the first details publicly announced on the project. Greeley spoke alongside representatives of Glencore Plc and Hartree Partners LP, which will be among trading houses procuring materials for Vault.

The project aims to build an immediate buffer against critical mineral supply shocks while using future purchases to send a stronger demand signal to US and friendly-nation producers.

Vault — which combines about $2 billion in private capital with a $10 billion Ex-Im loan — is President Donald Trump’s latest effort to build an alternative supply chain for the materials, which are key for the production of electric vehicle batteries, solar panels and other low-carbon technologies. China is the dominant supplier of critical minerals worldwide.

The recent panel was the most robust public discussion of Vault since Ex-Im revealed the program in February. For nearly three months, metals investors, traders and consumers have sought details as the government worked behind the scenes to flesh out the project.

Attendees packed a conference room at a hotel in Washington, DC, to get details on Vault’s sourcing hierarchy and payment structure. After brief introductory remarks, the panel unexpectedly opened up the floor to an almost hour-long question-and-answer session.

The program’s so-called waterfall would give preference to domestic suppliers even when their material comes at a premium to allied alternatives, with participating manufacturers expected to accept that trade-off as part of joining the program, panelists said.

The initial stockpile fill, however, would be driven chiefly by availability, reflecting the reality that some of the roughly 60 minerals under consideration are produced only in limited geographies and, in some cases, remain heavily influenced by China.

Vault is being structured as a demand-driven vehicle rather than a government-directed stockpile, according to panelists. Manufacturers would determine which minerals are stored, with the program then work with traders to secure supply. It’s designed to give US firms more leverage in opaque and fragmented markets where individual buyers often struggle to source smaller volumes efficiently or at transparent prices.

On storage, Greeley said the project will begin by relying on warehouse networks already controlled by trading partners and procurement providers. Over time, Vault is expected to develop its own storage network, either by building facilities or leasing them. A mature system could combine its own sites with third-party warehouses.

Panelists said the use of specialist traders would also be tailored to individual metals. Rather than sending orders into an open bidding process, Vault is expected to match procurement to firms with expertise in specific markets, allowing traders with relationships in cobalt, rare earths or other niche material sectors to handle those flows. The goal, panelists said, is to preserve pricing discipline, improve execution and avoid creating a scramble for hard-to-find materials.

(By Joe Deaux and James Attwood)