Aussie uranium miners rally after Trump's Canada tariff threat, AI investment plan

Boss Energy

22/01/2025 04:32

** Shares of Australian uranium producers rise after U.S.
President Donald Trump said he was considering imposing 25%
tariffs on Canada and Mexico by Feb. 1 
    ** Boss Energy  BOE.AX , Paladin Energy  PDN.AX  and Deep
Yellow  DYL.AX  jumps 12.8%, 11.3% and 6.6%, respectively
    ** Tariff threats on Canada, the world's No. 2 uranium
producer after Russia, add uncertainty around the supply of the
commodity
    ** There is some speculation that a Trump tariff on Canada
could hinder imports though will wait on the detail not the
noise - Damian Rooney, director of institutional sales at
Argonaut
    ** The sector may also benefit from the comments from Trump
on AI investment, with uranium seen as a solution for this
potential energy demand - Rooney
    ** Paladin Energy hits 2-month high of A$9.345 after upbeat
quarterly production results

 (Reporting by Jasmeen Ara Shaikh in Bengaluru)
 ((Jasmeenaraislam.shaikh@thomsonreuters.com))