The supply chain for uranium has been heavily impacted by the American ban on Russian-imported low-enriched uranium (LEU) earlier this year, with the US and China making further moves in the space. It thus becomes increasingly clear that a complete shake-up in the supply-demand dynamic of nuclear fuel is well underway since the US and EU have had Russian facilities as their preferred suppliers. China has begun construction of its National Uranium No.1 (NUNo1) project in Ordos, Inner Mongolia, which is set to be China’s largest uranium mining project. China accounts for around 4% of the global uranium mining capacity with 1,800 tons per year according to estimates. Its current largest projects at the Fuzhou underground mine has had a…