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February 09, 2026
📊 This Week in Uranium
Spot Price: $88.00/lb - consolidating at elevated levels
Weekly Change: +2.03% (up from previous day on Feb 10)
Momentum: Holding steady near 2-year highs; prices up 30.66% year-over-year with continued strength from government support and AI-driven demand
🟢 1. U.S. Military Completes Historic Airlift of Next-Generation Nuclear Reactor
On February 15, 2026, the Department of Defense and Department of Energy successfully transported a next-generation modular nuclear reactor aboard a C-17 aircraft from March Air Reserve Base in California to Hill Air Force Base in Utah in "Operation Windlord." The reactor, developed by Valar Atomics, will undergo testing at the Utah San Rafael Energy Research Center in Orangeville as part of advancing President Trump's executive order to achieve reactor criticality on U.S. soil by July 4, 2026.
Key facts:
First airlift of modular nuclear reactor complex on military aircraft
Ward250 reactor uses TRISO fuel capable of operating above 750°C
Part of federal nuclear modernization initiative under Executive Order 14301
Designed for military installations to reduce grid dependence
Supports deployment of microreactors for defense energy resilience
Why it matters: Demonstrates rapid progress toward deployable, transportable nuclear systems for military and remote applications, showcasing the administration's aggressive timeline for nuclear innovation and energy independence.
Sources:
🟢 2. NexGen's Rook I Uranium Project Advances Through Final Federal Approval Hearing
The Canadian Nuclear Safety Commission held Part 2 of its public hearing for NexGen Energy's Rook I uranium mine and mill project from February 9-12, 2026 in Saskatoon, Saskatchewan. This represents the final step in the federal regulatory approval process before a CNSC decision. All four identified Indigenous Nations in the Local Priority Area spoke in support of the project, which would become Canada's largest uranium mine.
Key facts:
Part 2 hearing held February 9-12 in Saskatoon (Part 1 completed November 2025)
CNSC has 120 days to render final approval decision
Project would produce up to 14 million kg of uranium annually
350 construction jobs and 490 permanent jobs over 24-year lifespan
75% Indigenous hiring commitment
Estimated $32 billion economic impact for Saskatchewan, $38 billion federally
Why it matters: If approved, Rook I would make Canada the world's largest uranium exporter and significantly expand global supply at a critical time of rising demand from nuclear power and data center growth.
Sources:
🟢 3. Solar Developer Geenex Expands Into Nuclear Energy Development
Charlotte, North Carolina-based Geenex announced on February 11, 2026 that it is expanding into nuclear energy development, focusing on siting and permitting of advanced small modular reactors. The company, which has filed over 12 GW of solar and battery storage projects in the PJM region since 2012, will apply its development expertise to nuclear projects.
Key facts:
Focus on advanced SMR siting and permitting
Prioritizing safety, environmental protection, and local partnerships
Targeting locations with low interconnection costs and available grid capacity
Engaging with NRC and state/local leaders for streamlined permitting
Continuing solar and storage development alongside nuclear expansion
Why it matters: Demonstrates mainstream renewable energy developers are diversifying into nuclear as the technology becomes commercially viable, reflecting growing industry convergence on firm, low-carbon baseload power to complement variable renewables.
Sources:
🟢 4. IEA Reports Nuclear Generation Hit Record High in 2025
The International Energy Agency released its "Electricity 2026" report on February 6, showing nuclear power generation reached a record 2,850 terawatt-hours globally in 2025, a 1.2% increase from 2024. Nuclear energy combined with renewables is projected to generate approximately 50% of global electricity by 2030, up from 42% today.
Key facts:
Nuclear output at 2,850 TWh in 2025 (previous record: 2021)
Projected growth to 3,279 TWh by 2030
Growth driven by Japan reactor restarts, higher French output, new reactors in China and India
China alone accounts for ~40% of projected global increase
Nuclear + renewables to meet entire increase in global electricity demand through 2030
Why it matters: Confirms nuclear's critical role in meeting surging electricity demand from AI, data centers, and electrification while maintaining grid reliability and reducing emissions.
Sources:
🟢 5. China Reports Construction Milestones at Three Nuclear Power Projects
China announced significant construction progress on February 10, 2026 at three nuclear power plants, with installation of key reactor and containment components at sites in Liaoning, Guangxi, and Guangdong provinces. The milestones underscore China's push to significantly increase its reactor capacity to support economic growth and decarbonization goals.
Key facts:
Guangxi Bailong: Inner steel containment bottom head installed for Unit 1
Projects advancing in Liaoning and Guangdong provinces
Part of China's broader nuclear expansion strategy
China has ~30 GW of new nuclear capacity expected online 2026-2030
Supports China's goal to account for 40% of global nuclear generation growth
Why it matters: China continues to lead global nuclear expansion with faster construction timelines than Western nations, strengthening its position as the dominant force in new reactor deployment and nuclear technology development.
Source:
📈 Prices Consolidate Near Highs as Fundamentals Strengthen
After January's surge above $100/lb, uranium prices consolidated in the second week of February around $88/lb, still up more than 30% year-over-year. The pullback from peak levels reflects some profit-taking, but underlying fundamentals remain supportive with Uzbekistan's higher-than-expected production temporarily adding supply.
However, the steady stream of positive developments—including the Rook I hearing progress, U.S. military nuclear deployment, record IEA generation data, and China's construction momentum, underscore the long-term bull case for uranium as supply tightness persists against accelerating demand from both traditional reactors and new AI-driven data center loads.
That's it for this week. More next Sunday.
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