--- title: The uranium supply story is becoming impossible to ignore description: "Global nuclear reactor capacity is projected to grow 44% over the next decade.\n\nEvery new 1 GW reactor requires:\n\n~400 tonnes of uranium for its initial core load.\n~160 tonnes per year thereafter to keep operating.\n\nHere's the catch:\n\nThe first core loads alone for the reactors currently planned would consume uranium equivalent to nearly 90% of today's annual global mine production.\n\nThat's before a single kilowatt-hour of electricity is produced.\n\nThe market isn't just facing rising annual demand. It must first fill an enormous pipeline of initial fuel requirements.\n\nThis is why many investors believe the structural bull case for uranium is still in its early stages.\n\nSource: Bloomberg, Lukas Ekwueme\n@ekwufinance" image: https://blog.syzgroup.com/hubfs/1784591417719.jpg --- [![Syz Private banking](https://blog.syzgroup.com/hs-fs/hubfs/Logo.png?width=140&name=Logo.png "Syz Private banking")](https://www.syzgroup.com/fr) ## **Thinking** out loud [Subscribe](https://25733253.hs-sites-eu1.com/newsletter-signup?hsLang=en) [![Contact Us](https://hubspot-no-cache-eu1-prod.s3.amazonaws.com/cta/default/25733253/3d762f49-4e71-4f99-97b1-bf6781ef3da2.png)](https://hubspot-cta-redirect-eu1-prod.s3.amazonaws.com/cta/redirect/25733253/3d762f49-4e71-4f99-97b1-bf6781ef3da2) - [OUR SERVICES](https://www.syzgroup.com/en/private-banking) - [ABOUT SYZ](https://www.syzgroup.com/en/about/welcome-to-syz) - [CAREERS](https://www.syzgroup.com/en/careers) - [PRESS](https://www.syzgroup.com/en/news) - [Blog Homepage](https://blog.syzgroup.com) - [Slow Food for Thought](https://blog.syzgroup.com/slow-food-for-thought) - [Focus](https://blog.syzgroup.com/slow-food-for-thoughts/tag/focus) - [Asset allocations Insights](https://blog.syzgroup.com/slow-food-for-thoughts/tag/asset-allocation-insights) - [Market Outlook](https://blog.syzgroup.com/slow-food-for-thoughts/tag/market-outlook) - [Swiss Perspectives](https://blog.syzgroup.com/slow-food-for-thoughts/tag/swiss-perspectives) - [Syz the moment](https://blog.syzgroup.com/syz-the-moment) - [Crypto corner](https://blog.syzgroup.com/crypto-corner) - [Syz AI Insights](https://blog.syzgroup.com/syz-ai-insights) - [Fast Food for Thought](https://blog.syzgroup.com/fast-food-for-thought) - [The week in seven charts](https://blog.syzgroup.com/fast-food-for-thoughts/tag/the-week-in-seven-charts) - [Flash](https://blog.syzgroup.com/fast-food-for-thoughts/tag/flash) - [Fixed Income Weekly](https://blog.syzgroup.com/fast-food-for-thought/tag/weekly-fixed-income) - [Equity Weekly](https://blog.syzgroup.com/fast-food-for-thought/tag/weekly-equities) - [Global markets outlook](https://blog.syzgroup.com/fast-food-for-thoughts/tag/global-markets-outlook) - [CONTACT](https://www.syzgroup.com/en/contact-us/form) - [ENGLISH](https://www.syzgroup.com/) - [FRANÇAIS](https://www.syzgroup.com/fr) - [Slow Food for Thought](https://blog.syzgroup.com/slow-food-for-thought) - [Focus](https://blog.syzgroup.com/slow-food-for-thoughts/tag/focus) - [Asset allocations Insights](https://blog.syzgroup.com/slow-food-for-thoughts/tag/asset-allocation-insights) - [Market Outlook](https://blog.syzgroup.com/slow-food-for-thoughts/tag/market-outlook) - [Swiss Perspectives](https://blog.syzgroup.com/slow-food-for-thoughts/tag/swiss-perspectives) - [Fast Food for Thought](https://blog.syzgroup.com/fast-food-for-thought) - [Flash](https://blog.syzgroup.com/fast-food-for-thoughts/tag/flash) - [Weekly Fixed Income](https://blog.syzgroup.com/fast-food-for-thought/tag/weekly-fixed-income) - [The week in seven charts](https://blog.syzgroup.com/slow-food-for-thoughts/tag/the-week-in-seven-charts) - [Global markets outlook](https://blog.syzgroup.com/fast-food-for-thoughts/tag/global-markets-outlook) - [Weekly Equities](https://blog.syzgroup.com/fast-food-for-thought/tag/weekly-equities) - [Syz the moment](https://blog.syzgroup.com/syz-the-moment) - [Crypto corner](https://blog.syzgroup.com/crypto-corner) - [Syz AI Insights](https://blog.syzgroup.com/syz-ai-insights) - [Our Services](https://www.syzgroup.com/en/private-banking) - [About Syz](https://www.syzgroup.com/en/about/welcome-to-syz) - [Careers](https://www.syzgroup.com/en/careers) - [Press](https://www.syzgroup.com/en/news) - [Contact](https://www.syzgroup.com/en/contact-us/form) - [English](https://www.syzgroup.com/) - [Français](https://www.syzgroup.com/fr) ## **Sign-up** for our newsletter This website uses cookies to enhance user navigation and to collect statistical data. 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The opinions and comments of the authors in this document reflect their current views and may not coincide with those of other Syz Group entities or third parties, which may have reached different conclusions. The market valuations, terms and calculations contained herein are estimates only. The information provided comes from sources deemed reliable, but Bank Syz Ltd. does not guarantee its completeness, accuracy, reliability and actuality. Past performance gives no indication of nor guarantees current or future results. Bank Syz Ltd. accepts no liability for any loss arising from the use of this document. 21 Jul 2026 - - - #### The uranium supply story is becoming impossible to ignore Global nuclear reactor capacity is projected to grow 44% over the next decade. Every new 1 GW reactor requires: ~400 tonnes of uranium for its initial core load. ~160 tonnes per year thereafter to keep operating. Here's the catch: The first core loads alone for the reactors currently planned would consume uranium equivalent to nearly 90% of today's annual global mine production. That's before a single kilowatt-hour of electricity is produced. The market isn't just facing rising annual demand. It must first fill an enormous pipeline of initial fuel requirements. This is why many investors believe the structural bull case for uranium is still in its early stages. Source: Bloomberg, Lukas Ekwueme @ekwufinance [#Commodities|](https://blog.syzgroup.com/syz-the-moment/tag/commodities) [#energy](https://blog.syzgroup.com/syz-the-moment/tag/energy) ![The uranium supply story is becoming impossible to ignore](https://blog.syzgroup.com/hubfs/1784591417719.jpg) ![The uranium supply story is becoming impossible to ignore](https://blog.syzgroup.com/hubfs/1784591417719.jpg) #### Disclaimer This marketing document has been issued by Bank Syz Ltd. It is not intended for distribution to, publication, provision or use by individuals or legal entities that are citizens of or reside in a state, country or jurisdiction in which applicable laws and regulations prohibit its distribution, publication, provision or use. It is not directed to any person or entity to whom it would be illegal to send such marketing material. This document is intended for informational purposes only and should not be construed as an offer, solicitation or recommendation for the subscription, purchase, sale or safekeeping of any security or financial instrument or for the engagement in any other transaction, as the provision of any investment advice or service, or as a contractual document. Nothing in this document constitutes an investment, legal, tax or accounting advice or a representation that any investment or strategy is suitable or appropriate for an investor's particular and individual circumstances, nor does it constitute a personalized investment advice for any investor. This document reflects the information, opinions and comments of Bank Syz Ltd. as of the date of its publication, which are subject to change without notice. The opinions and comments of the authors in this document reflect their current views and may not coincide with those of other Syz Group entities or third parties, which may have reached different conclusions. The market valuations, terms and calculations contained herein are estimates only. The information provided comes from sources deemed reliable, but Bank Syz Ltd. does not guarantee its completeness, accuracy, reliability and actuality. Past performance gives no indication of nor guarantees current or future results. Bank Syz Ltd. accepts no liability for any loss arising from the use of this document. Read More ## Related Articles [Commodities](https://blog.syzgroup.com/syz-the-moment/tag/commodities) #### [Uranium miners are down 45% while uranium sits near $90, close to its highs.](https://blog.syzgroup.com/syz-the-moment/uranium-miners-are-down-45-while-uranium-sits-near-90-close-to-its-highs?hsLang=en) Last time miners got crushed while the metal held up was spring 2025… The Uranium Miners ETF nearly tripled in nine months Source: Katusa Research **[Charles-Henry Monchau, CFA, CMT, CAIA](https://blog.syzgroup.com/author/charles-henry-monchau?hsLang=en)** | 12/10/2026 [United States|](https://blog.syzgroup.com/syz-the-moment/tag/united-states) [energy](https://blog.syzgroup.com/syz-the-moment/tag/energy) #### [Europe’s LNG supply is becoming overwhelmingly American.](https://blog.syzgroup.com/syz-the-moment/europes-lng-supply-is-becoming-overwhelmingly-american?hsLang=en) The US share of EU LNG imports surged from 28% in early 2021 to 63.2% today. IEEFA projects up to 80% by 2028. Two shocks accelerated the shift: Europe’s phaseout of Russian LNG and disruptions to Qatari supply. American cargoes offer flexibility. But they follow the highest bidder. When Asia pays more, Europe must compete—or pay up. Europe escaped one energy dependence. Is it building another? At almost two-thirds of imports, is US LNG Europe’s security—or its next vulnerability? Source: Jack Prandelli on X **[Charles-Henry Monchau, CFA, CMT, CAIA](https://blog.syzgroup.com/author/charles-henry-monchau?hsLang=en)** | 06/10/2026 [equities|](https://blog.syzgroup.com/syz-the-moment/tag/equities) [energy](https://blog.syzgroup.com/syz-the-moment/tag/energy) #### [$GLND Greenland Energy is Up +164% pre-market on Trump's Security Agreement News](https://blog.syzgroup.com/syz-the-moment/glnd-greenland-energy-is-up-164-pre-market-on-trumps-security-agreement-news?hsLang=en) Greenland Energy shares surged 164.17% to $3.17 following reports of Trump's 🇺🇸 security agreement between the US and Greenland. Source: Q-Tech News **[Charles-Henry Monchau, CFA, CMT, CAIA](https://blog.syzgroup.com/author/charles-henry-monchau?hsLang=en)** | 21/09/2026 ## Straight from the Desk # Syz the moment Live feeds, charts, breaking stories, all day long. 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