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

Reuters

Jan 22, 2025

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

** 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))

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