Japan suffered an awful disaster 15 years ago when Fukushima was hit by a tsunami after a 9.0 magnitude earthquake at sea. However, it hasn’t stopped the world’s 3rd largest economy turning back to nuclear power. Before Fukushima, nuclear powered around 30% of the country’s needs and has now grown back to 10% today, targeting 20% by 2040. It may not be the case in Australia but most of the world is trying to grow a nuclear footprint as global energy demands look set to explode in the coming years due to AI.
- We remain convinced that nuclear power will play a major role in meeting the worlds growing thirst for power.
While it’s a volatile space, MM expects to hold uranium stocks in its portfolios through much of the coming years.
