Uranium prices soared more than 110% YoY, inspiring U.S. companies to rehabilitate abandoned mines in four states, including Texas and Arizona. Uranium prices fell below $100 a pound in late February for the first time in 7 weeks after the U.S. government dropped a ban on imports of Russian nuclear fuel in its latest sanctions package, raising concerns about greater supply risks in world markets. Still, hearings on a ban on imports from the world's largest producer of enriched uranium are expected to be held in the coming weeks, following a proposal by some members of Congress.

After the Fukushima nuclear tragedy, Japan and Germany decided to completely abandon all nuclear usage, including civil, prices at the time plummeted, and the U.S. had to freeze many projects. Now the situation has fundamentally changed.

The International Energy Agency, IEA, forecasts that the annual global demand for uranium by 2040 will be over one hundred thousand tons. To achieve this, mining and processing levels will have to increase by at least twice from the current levels.

And of course, geopolitics played a dramatic role here: American business fears that their government will extend sanctions to uranium, making it difficult to even transit ores from Kazakhstan.