Why Uranium Is the Critical Energy Play of 2026

Core Viewpoint - The uranium market is poised for significant growth in 2026, driven by strategic demand and supply constraints, particularly due to the increasing energy requirements from artificial intelligence technologies [1] U.S. Policy Support - Uranium is recognized as a "critical material" under U.S. policy, which may lead to adjustments in import levels deemed a threat to national security [1] - The Section 232 proclamation highlights the vulnerabilities associated with reliance on foreign uranium supplies, potentially leading to higher prices and improved project economics for domestic uranium production [1] Mining Opportunities - The uranium market is currently in a structural deficit, with major producers limiting exploration while global production fails to meet rising demand [1] - The World Nuclear Association projects that reactor requirements will more than double by 2040, reinforcing the need for new uranium mines [1] - The Sprott Uranium Miners ETF (URNM) is suggested as a viable investment option, providing exposure to both physical uranium and mining companies [1]