Uranium futures rose to above $84 per pound, testing the highest level since mid 2024 amid signs of stronger demand from datacenters and fresh buying from physical funds. The US cut regulations on the construction and permits for uranium converters and enrichers and announced deals for the construction of new power plants.
These include a partnership with Cameco, which approved the development of Westinghouse reactors, and a fresh $2.7 billion in contracts to Centrus and two other reactors and enrichers to offset the shun of supply from Russia following sanctions on their nuclear fuel. Bets of higher investment in the sector due to governments aiming to increase energy security and pledges of expenditure on power-hungry datacenters supported buying from physical uranium funds. Most recently, Sprott's physical uranium fund, the world's largest, increased its holdings by of yellowcake 100,000 pounds.
Denison Mines stock jumps with uranium names as Phoenix approvals come into focus
Denison Mines Corp shares climbed roughly 4.1% to $3.70 on Friday morning, having peaked at $3.80 earlier in the session. On the NYSE American, the stock swung between $3.58 and $3.80, with around 7.3 million shares traded.
Uranium stocks climbed, with Cameco rising around 3.8%. Uranium Energy jumped about 4.6%, while NexGen Energy picked up close to 2%.
Why this matters now: the group acts as a stand-in for uranium price bets, and investors are focusing on developers hitting permitting milestones soon. According to Sprott Physical Uranium Trust, there were 75.4 million pounds of U3O8 in inventory, valued at about $6.43 billion on Jan. 15, which works out to roughly $85 per pound.
Uranium isn’t traded on a central exchange like oil or gold; instead, most deals happen through private contracts. Cameco’s published industry-average prices put the spot price at $81.55 per pound as of Dec. 31, 2025, with the long-term price at $86.50.
Denison has been on investors’ radar since Jan. 2, when it announced readiness to make a final investment decision and begin building its Phoenix in-situ recovery (ISR) uranium mine, subject to regulatory approvals. The company outlined a two-year construction schedule and aims for first production by mid-2028, assuming approvals come through in the first quarter of 2026.
ISR, or in-situ recovery, is a mining technique that injects a solution into the underground ore body to dissolve uranium, then pumps it back to the surface for processing. This method limits surface disruption but faces intense regulatory and engineering oversight since the extraction occurs underground.
Denison has been making progress on infrastructure. On Jan. 8, it announced that Saskatchewan Power Corp’s grid supply is now connected at the future Phoenix site, thanks to a new 138-kilovolt transmission line. The company said this enables early construction activities and the planned “freeze wall” surrounding the initial mining zone. CEO David Cates described the project as “on schedule and on budget.”
Smaller Athabasca explorers outside the company are focusing on Denison-linked territory. Foremost Clean Energy announced Thursday it has hired RedChip Companies for investor relations. CEO Jason Barnard highlighted plans for “multiple drill programs” and an option to earn up to 70% interest in 10 promising uranium properties from Denison.
Equity traders face a straightforward scenario: Denison’s value moves with uranium sentiment but hinges heavily on a binary timeline — permits, green lights for construction, and a build schedule laid out in quarters and years.
The downside risk is sharp. Back in November, Denison revealed a judicial review application aimed at overturning Saskatchewan’s environmental assessment approval for the Wheeler River project. The claim? That the government didn’t meet its duty to consult. Denison, however, insists the consultation process was meaningful and says it will fight the challenge. Any hiccup in approvals or a weakening uranium market can quickly drag down developer stocks.
Denison’s next major hurdle is regulatory: the company is awaiting final approvals to kick off construction at Phoenix, aiming to secure them by Q1 2026. After that, focus will shift to the timing of a final investment decision and the start of early construction — all while watching if uranium prices stay supportive for the sector.
Anfield Energy Welcomes President Trump’s Section 232 Proclamation on Processed Critical Minerals: Reinforcing National Security Protections for Domestic Uranium Production and the U.S. Nuclear Sector
Anfield Energy Inc. (TSX.V: AEC; NASDAQ: AEC; FRANKFURT: 0AD) (“Anfield” or the “Company”), a leading U.S.-focused uranium and vanadium development company advancing toward near-term production, today welcomes President Trump’s January 14, 2026, proclamation under Section 232 of the Trade Expansion Act of 1962. Titled “Adjusting Imports of Processed Critical Minerals and Their Derivative Products into the United States”, this action directs negotiations with trading partners to address national security risks posed by imports of processed critical minerals (including uranium) and their derivatives, while prioritizing the protection and promotion of domestic mining, processing, and supply chains.
This proclamation both builds directly on uranium’s reinstatement to the U.S. Geological Survey’s Critical Minerals List in November 2025 and complements recent federal initiatives, such as the $2.7 billion DOE funding for domestic uranium enrichment awarded in early January 2026.
How the Section 232 Proclamation Benefits U.S. Uranium Companies and the Nuclear Sector
The Section 232 action follows a 2025 Commerce Department investigation concluding that heavy reliance on foreign-processed critical minerals threatens U.S. national security. By focusing on diplomatic agreements to secure reliable allied supplies while safeguarding domestic capabilities, the proclamation creates a framework that:
Enhances market confidence and economic incentives – Critical mineral status, combined with national security priorities, unlocks expedited permitting, priority federal support (including the possibility of a floor price for uranium), and improved access to funding, accelerating project timelines and reducing regulatory hurdles.
Strengthens energy independence and nuclear growth – By reducing vulnerabilities to geopolitical disruptions, it ensures reliable fuel for America’s nuclear fleet (providing approximately 20% of U.S. electricity), supports expansion for clean energy goals, AI/data centre demands, and defense applications (e.g., naval reactors).
Mitigates foreign competition risks — It signals potential future measures (e.g., tariffs or import adjustments) to counter subsidized foreign uranium supplies from dominant producers like Russia and Kazakhstan, which have historically suppressed domestic market prices and production.
Promotes domestic processing and mining — Emphasizing that mining alone is insufficient without U.S.-based processing, it encourages investment in the full nuclear fuel cycle—from extraction to conversion and enrichment—directly supporting companies with advanced-stage U.S. assets.
These elements align closely with Anfield’s hub-and-spoke strategy, centered on the fully licensed Shootaring Canyon conventional uranium mill—one of only three in the U.S.—and its portfolio of high-quality projects in Utah and Colorado.
Anfield’s Strong Positioning Amid Supportive Policy Tailwinds
The proclamation reinforces the momentum from 2025 milestones, including expedited federal approvals for the Velvet-Wood Mine (groundbreaking in November 2025), permitting advancements for the JD-8 Mine in Colorado (targeting restart in H2 2026), and the Company’s recent US$10 million financing close (January 13, 2026) to fund acceleration.
Corey Dias, Anfield CEO, commented: “President Trump’s Section 232 proclamation delivers a clear commitment to protecting America’s domestic uranium industry from unfair foreign import practices while rebuilding resilient supply chains. For Anfield, this means a more level playing field, faster project advancement, and greater confidence in delivering secure, American-sourced uranium starting in 2026. Combined with recent DOE enrichment investments and uranium’s critical mineral designation, these developments create an unprecedented environment for U.S. producers. We are proud to be in a position to contribute to national energy security, the nuclear renaissance, and a cleaner, more independent energy future.”
Anfield remains committed to responsible development, stakeholder engagement, and maximizing value as federal policies continue to drive domestic uranium resurgence.
About Anfield
Anfield is a uranium and vanadium development company that is committed to becoming a top-tier energy-related fuels supplier by creating value through sustainable, efficient growth in its assets. Anfield is a publicly traded corporation listed on the NASDAQ (AEC-Q), the TSX-Venture Exchange (AEC-V) and the Frankfurt Stock Exchange (0AD).
Source: www.investingnews.com
Aleksei Andrievskii is the founder of the ANDRIEVSKII SEA WEALTH family office in Cyprus, a member of the advisory board at Bendura Bank AG, Liechtenstein