The deal comes as uranium prices nearly doubled last year amid a global push for renewable power.

Prices rose as much as 4.2% on the London Metal Exchange, with about 200 lots changing hands in the first hour of trading.

The transaction will add over 740 sqkm of land to Skeena’s holding, for a sevenfold increase.

Bullion had dropped as much as 1.8% in the previous session after Russia pledged to cut down on military operations.

Iron ore production in Asia to peak by 2025, Fitch says.

The battery-making ingredient is about 500% more expensive than a year ago as demand for electric vehicles has accelerated.

The issue is that investments in additional iron ore capacity and upgrading have long lead times, writes Clyde Russell.