Manage episode 264100855 series 2493704
In today's episode, Marcelo López spoke to Brandon Munro, CEO of Bannerman Resources, a company listed on the Australian stock exchange, ASX, focused on the exploration and development of uranium mines in Namibia. Brandon, who has participated in L2 Capital's Podcasts # 05, # 14 and # 18, returned to discuss the Russian Suspension Agreement (RSA), the Iran waivers and the outcome of the Nuclear Fuel Working Group (NFWG).
Munro starts by explaining what the Russian Suspension Agreement (RSA) is in a very clear and objective way. Then, when asked about a potential disruption in the supply of nuclear fuel to the US due to this suspension as early as 2021, Brandon explains what can be done to mitigate this situation.
He also discusses the Corfu Declaration, an agreement similar to the RSA, but in Europe, and its practical effects. Through this Declaration, Russia would be unable to supply more than 20% of Europe’s enriched uranium demand.
Brandon explains how global regulation and control of uranium is carried out in the context of the global nuclear fuel supply chain, as uranium can be mined in Australia, converted and enriched in Russia, produced as a fuel in Sweden and be used in an American reactor.
Brandon comments on the situation in Iran, the agreement signed by President Obama, the US discontentment and subsequent withdrawal from that agreement, on the waivers granted to some companies, the recent withdrawal of three of these waivers and the consequences this could have.
Munro also talks about the release of the Nuclear Fuel Working Group (NFWG) report at the end of April, its main points, the consequences for the global nuclear industry and, specifically, for the USA.
Finally, Brandon and Marcelo discuss Cigar Lake, the Cameco mine whose production was suspended this year, the movement in Port Hope and the difficulties that traders are facing to find uranium in the midst of this bull market.