Purecore Publishes Uranium Market Report Tracking AI-Driven Nuclear Demand
Purecore Metals (PPURF) published Uranium and the AI Power Boom, a report examining uranium supply and demand alongside AI-related electricity consumption.
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Purecore Metals (PPURF) published Uranium and the AI Power Boom, a report examining uranium supply and demand alongside AI-related electricity consumption. The free report draws on third-party industry data to examine nuclear expansion, utility contracting, uranium prices and the different development timelines of data centres and uranium mines.
It includes an IEA projection that data centre electricity consumption could reach 950 TWh annually by 2030 and industry scenarios indicating cumulative uranium supply deficits of approximately 700 million to 1.7 billion pounds through 2040, depending on demand assumptions. These are scenarios, not assured outcomes. The report also discusses Purecore's Yurchison uranium and Bankier properties. Purecore is an exploration-stage company with no history of mineral production; neither property has defined mineral resources or reserves under National Instrument 43-101.
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The report draws on data from the International Energy Agency ("IEA"), International Atomic Energy Agency ("IAEA"),
Please download the free report here: Download report (www.purecoremetals.com/uranium-report/)
Uranium and the AI Power Boom — Report Highlights
The report examines several developments influencing the global uranium industry:
- AI-Driven Electricity Demand: The IEA's projection that data centre electricity consumption could reach 950 TWh annually by 2030.1
- Global Nuclear Expansion: The IAEA's latest nuclear generating-capacity projections through 2060.3
- Long-Term Uranium Supply: Industry scenarios indicating cumulative uranium supply deficits of approximately 700 M to 1.7 Blb of U₃O₈ through 2040.4
- Uranium Pricing: September 2026 industry-average spot and long-term indicators of
US and$89.63 US /lb, respectively.5$96.50 - Nuclear Utility Contracting: EIA data showing approximately 186.3 Mlb of unfilled
U.S . utility requirements for 2026–2035.6 - Global Production Concentration:
Kazakhstan's approximately40% share of global uranium mine production.7 - Exploration and Development: Long timelines associated with bringing new mining projects into production.2
- Purecore's Portfolio: The Yurchison Uranium Property in
Saskatchewan and Bankier Property inBritish Columbia .
Peter Berdusco, President and CEO of Purecore, commented:
"Artificial intelligence is introducing another powerful source of electricity demand. The world's largest technology companies are increasingly looking toward nuclear energy as a source of reliable, around-the-clock power capable of supporting the scale and performance requirements of next-generation data centres. We compiled this report because we believe investors should have access to the same underlying industry data that informs our strategic decisions. Understanding the relationship between nuclear expansion, uranium supply and long-term electricity demand is fundamental to understanding why Purecore is building its portfolio around uranium and other critical minerals."
Purecore's Uranium and Critical Minerals Strategy
Purecore continues to pursue an acquisition- and exploration-focused strategy targeting uranium and copper opportunities in prospective mining jurisdictions.
The Company's Yurchison Uranium Property, located in the Wollaston Domain of northern
The property is located approximately 75 kilometres south of Cameco's
Through its existing portfolio and ongoing evaluation of additional opportunities, Purecore aims to build a portfolio of critical mineral exploration assets positioned within the broader themes of nuclear energy expansion, electrification and increasing global electricity requirements.
Global Nuclear Expansion and Uranium Supply
The IAEA's September 2026 nuclear power projections provide additional evidence of the potential scale of future nuclear energy expansion. According to the IAEA, approximately 413 nuclear reactors were operating worldwide at the end of 2025, representing 377.1 gigawatts of electrical generating capacity.3
Under the agency's high-growth scenario, global nuclear generating capacity could increase to approximately 1,045 gigawatts by 2050 and 1,284 gigawatts by 2060, more than three times the 2025 operating capacity. These figures are scenario-based projections, not assured outcomes.3
Sprott's uranium market analysis estimates that cumulative uranium supply deficits could approach 700 Mlb of U₃O₈ by 2040 under its underlying demand assumptions. Under a scenario incorporating global net-zero commitments, the projected cumulative deficit could reach approximately 1.7 Blb of U₃O₈ over the same period.4
Uranium Pricing and Utility Contracting
According to Cameco's published uranium pricing data, the industry-average uranium spot price was
The report examines how outstanding
Concentration of Global Uranium Production
According to the World Nuclear Association,
Kazatomprom,
Sources and References
Numbers in the text refer to the sources below. Third-party projections are scenarios, not guarantees.
1. IEA, Key Questions on Energy and AI (Apr. 16, 2026), Executive Summary. Source
2. S&P Global Market Intelligence, From Discovery to Delay (Jul. 8, 2026); mining projects generally. Source
3. IAEA, Energy, Electricity and Nuclear Power Estimates to 2060 (Sep. 14, 2026), high case. Source
4. Sprott, The Uranium Miners Opportunity (2025); scenarios based on data as of Dec. 31, 2024. Source
5. Cameco, Uranium Price, month-end industry-average indicators (Sep. 30, 2026). Source
6.
7. World Nuclear Association, Uranium and Nuclear Power in
8. Kazatomprom, FY2025 Results and H1 2026 Results; attributable output and 2026 guidance. FY2025 • H1 2026
9. Purecore Metals, Yurchison Data Compilation and Target Generation (Sep. 15, 2026). Source
About Purecore Metals Inc.
Purecore Metals Inc. (CSE: PURE) (FSE: J8Y) (OTCQB: PPURF) is a Canadian critical minerals exploration company focused on building a portfolio of uranium and copper assets aligned with the long-term expansion of global electricity demand. The Company's strategy focuses on the acquisition, exploration and advancement of critical mineral assets in mining-friendly jurisdictions.
For additional information, visit www.purecoremetals.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Peter Berdusco
President and Chief Executive Officer | Purecore Metals Inc.
Cautionary Statement Regarding Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements regarding anticipated global uranium supply and demand; future nuclear energy development and expansion; projected electricity demand associated with artificial intelligence and data centre infrastructure; future uranium pricing and market conditions; potential uranium supply deficits; uranium production forecasts; nuclear utility contracting activity; and the Company's exploration, acquisition and business development strategies.
Forward-looking information is based on management's current expectations, estimates, projections and assumptions regarding global electricity consumption, government energy policies, nuclear reactor construction, uranium production and availability, commodity prices, exploration results, regulatory approvals, financing conditions and general economic and market circumstances.
Such information involves known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied, including commodity price fluctuations, changes in government policy, delays in nuclear infrastructure development, variations in nuclear fuel demand, the availability of secondary uranium supplies, changes in uranium market conditions, exploration risks, regulatory requirements, financing risks and general market conditions. Industry forecasts, projections and scenario analyses referenced herein are derived from third-party sources and should not be interpreted as guarantees of future results. The Company undertakes no obligation to update forward-looking information except as required by applicable securities laws.
Third-Party Information and Technical Disclosure
Industry information included in this news release has been obtained from third-party sources believed to be reliable. Such information has not necessarily been independently verified by the Company, and no representation is made regarding its completeness or accuracy. The accompanying report is provided for informational purposes only and does not constitute investment advice, an offer to sell securities or a solicitation of an offer to purchase securities.
The accompanying report does not constitute a technical report under National Instrument 43-101 – Standards of Disclosure for Mineral Projects. No mineral resources or mineral reserves have been defined on the Yurchison Uranium Property or the Bankier Property in accordance with National Instrument 43-101. Purecore is an exploration-stage company with no history of mineral production. There can be no assurance that exploration activities on either property will result in the discovery of an economically viable mineral deposit.
Neither the Canadian Securities Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of this release.
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SOURCE Purecore Metals Inc.