Hespress reported on Wednesday evening that a recent study by the Middle EAST Institute revealed that Morocco is moving towards joining the club of uranium-producing countries. This is through preparations to extract this material from its vast phosphate wealth, a move that may reshape the balance of power in the nuclear energy sector. The report quoted Abdessamad Mellawy, an expert in renewable energy technology and modern systems, who stated, “Recently, many ideas and opinions have emerged about Morocco’s direction towards nuclear energy as one of the options under study to contribute to Moroccan energy resources.” He explained that “Morocco has presented the option of renewable energies for discussion on numerous occasions through partnerships, either with the International Atomic Energy Agency for peaceful use or through some agreements that our country has concluded with both France and Russia and a number of leading countries in nuclear energy. Morocco aims through this technology to primarily produce electricity.” A report published by Sputnik in September 2023 indicated that uranium prices reached unprecedented levels in late August, the highest in 12 years. The report pointed out that global uranium trading experts stated that the $40 per pound era (one pound = 453 grams) for uranium prices is over. It is noted that the price of a pound of uranium recorded $59.9 in 2023. It is also noted that since 2013, global production has not fully met global demand for this metal, according to statistics from the World Nuclear Association, which indicated that the highest production rate in 2015 covered only 98 percent of global demand, while global production covered only 74 percent of the world’s needs in 2022.
