In an interview with commodities media personality and YouTuber Jesse Day, legendary investor and CEO of Sprott Rick Rule said 2023 will be the year that uranium turns a corner – with Japan’s nuclear power restarts, extensions and new builds signalling the upward swing.
In the interview, set to be published imminently, Rule says he believes 2023 is going to be a huge year for uranium, mostly due to the timing of Japan’s nuclear restart.
This will lead to a rebalancing in the demand and supply dynamics of uranium around the world, Rule says.
“For years I was saying to people the turn in uranium will come with the pace of Japanese restarts… I don’t know when that going to happen… Well now I know, 2023”.
Public opinion in Japan about nuclear energy has completely flipped in recent times, as the country is hit by high energy costs in the last year.