The Sprott Physical Uranium Trust holds almost a third of the world’s annual supply -- and it’s getting bigger.

Mine Storage aims to build the world’s first commercial underground mine storage facility.

The commodity trader posted a net profit of $3.1 billion for its financial year ending Sept. 30, almost double the previous year.

The company’s 10-year bonds will pay investors a higher interest rate if it fails to cut emissions, or to sufficiently boost the percentage of women in its senior leadership positions by 2030.

The operation is scheduled to ship first cargoes before the end of December and aims to supply an initial 10 million tonnes of thermal coal annually for at least 30 years.

The funding, $35 million in total, is being awarded to 12 projects.

Steel production generates an estimated 7% of global greenhouse gas emissions and some processes can’t easily run on electricity.

The Hail Creek coal mine leaked an estimated 230,000 tonnes of methane a year in 2018 and 2019, according to researchers.