Three-Continent Uranium Portfolio Positioned for Nuclear Renaissance Driven by Tech Giants’ Power Needs

The global uranium market is experiencing an unprecedented transformation, driven by artificial intelligence and data center growth that industry experts describe as creating the most compelling supply-demand dynamic in decades. This fundamental shift was highlighted by Marc Henderson, CEO of Laramide Resources, during recent discussions at the World Nuclear Association symposium, where industry sentiment has evolved from skepticism to urgency regarding nuclear power’s essential role in meeting escalating electricity demands.

“The world’s figured out we need a lot more electricity all of a sudden, particularly in the West that hasn’t had any real growth in electricity demand in a long time, and nuclear becomes sort of the default obvious solution,” Henderson observed.

This demand surge is primarily fueled by technology companies constructing extensive AI infrastructure that requires reliable, carbon-free baseload power. These tech giants are approaching nuclear energy differently than traditional industry players, moving faster and bringing both substantial capital and solution-oriented thinking to nuclear deployment.

Henderson noted that tech companies prefer partnership roles rather than becoming operators, seeking to collaborate with established nuclear fuel companies instead of entering the complex uranium supply chain themselves.

While demand accelerates, the uranium supply side faces significant constraints. In-situ recovery (ISR) operations present unique technical challenges compared to conventional mining, described by Henderson as managing “an underground chemistry set.” Regulatory bottlenecks further complicate the picture, with Henderson pointing out that Canada’s government lacks capacity to approve more than one or two projects annually due to insufficient regulatory infrastructure.

The current market dynamics reflect these supply limitations, creating a fundamental mismatch between long-term demand and identified reserves. With new reactors expected to operate until 2100, the industry faces serious questions about future supply adequacy.

Laramide Resources is strategically positioned with advanced uranium projects across three continents. In the United States, the company’s Churchrock project in New Mexico represents one of the country’s most advanced uranium development opportunities. Henderson describes it as “probably the biggest known ISR coherent project under one roof that’s permitted by the NRC” outside of Cameco’s original assets. The project contains approximately 70 million pounds of uranium across two sites.

The Churchrock project has secured federal NRC licensing and awaits only a final state permit from New Mexico. Designed to start at one million pounds of annual production, it can naturally scale to three million pounds. The timing appears favorable as New Mexico regulators face increasing applications from multiple uranium companies, potentially creating sector-wide momentum.

In Australia, Laramide’s Westmoreland project in Queensland represents perhaps the company’s most immediate value catalyst. With 65 million pounds of uranium resources, the project requires only a single political decision to proceed. Henderson explains that Westmoreland is “literally one comment away” from approval, following precedent when Queensland’s Liberal Party previously granted uranium development approval “in a five-minute news conference.”

The recent Queensland election results favor uranium development with the Liberal Party returning to power. Henderson remains optimistic about approval timelines, noting this isn’t a complex regulatory process but a straightforward political decision.

The market currently values this asset at what Henderson estimates as 0.2 of its net asset value, creating significant revaluation potential upon political approval. Given that Westmoreland ranks among the “top 10 global uranium mines, ready to go in a market that needs it,” the value disconnect appears substantial.

Laramide has also secured exploration rights in Kazakhstan, the world’s largest uranium producer. The company’s strategy focuses on identifying economically viable 30-50 million pound deposits rather than pursuing mega-discoveries. Approximately 15,000 meters of drilling are planned beginning in the fourth quarter, representing the first significant Western exploration effort in the region for many years.

The regulatory landscape varies significantly across Laramide’s operating jurisdictions. In the United States, Henderson praises the current administration’s support through initiatives like the Fast-41 program, which provides clear permitting timelines for critical infrastructure projects. This level of government engagement contrasts with Henderson’s experience in other jurisdictions, particularly Canada.

Industry pricing discussions at the World Nuclear Association symposium reveal substantial upward pressure on uranium prices. Henderson notes that when asking utilities about realistic pricing for new supply development, “no one has a number south of 100” dollars per pound. This price level reflects the economic reality of bringing new uranium production online.

The convergence of artificial intelligence, data center expansion, and climate commitments is creating unprecedented demand for reliable, carbon-free electricity. Traditional renewable sources cannot meet the 24/7 power requirements of massive computing infrastructure, positioning nuclear power as the only scalable solution for baseload demand.

The resulting supply-demand imbalance creates a compelling environment for advanced-stage uranium developers with proven resources and clear paths to production, particularly those with diverse geographic exposure and near-term development potential.