Deep Yellow's board has decided to defer a decision to construct a processing plant at the Namibian uranium project until the market provides sufficient incentive - but has also said it believes price improvements are inevitable.

The trend of declining uranium exploration and mine development expenditure has been reversed - but substantial investment in new mining projects will be essential to meet nuclear power generation projections to 2050 and beyond, according to the latest edition of the key OECD/IAEA joint report.

The nuclear fuel cycle is the series of industrial processes that turns uranium into electricity. Claire Maden takes a look at the steps that make up the cycle, the major players and the potential pinch-points.

Last year saw the highest US production of uranium concentrate since 2018, spurred by a sustained period of higher uranium prices, according to the US Energy Information Administration.

Rosatom's Namibian operating company said it "acknowledges and appreciates" a recommendation that uranium exploration activities at the Wings in-situ recovery uranium project should continue.

The head of Kazakhstan's national nuclear company has briefed the country's president on its long-term "value over volume" approach with the focus firmly on its core uranium business - but expects 2025 production from its Inkai project to be down on previous expectations following a temporary suspension in January. 

IAEA Director General Rafael Mariano Grossi's two-day visit to Niger included meetings with Prime Minister Ali Lamine Zeine and other senior officials as well as visits to two uranium mine sites.

The South Djengeldi uranium project will be developed by Nurlikum Mining - and Japanese company ITOCHU Corporation is joining the French and Uzbek companies in the joint venture.

The start-up of the second ion exchange circuit at enCore Energy's Alta Mesa central processing plant comes as the company is accelerating wellfield development at the project in South Texas.