Meta and Sprott in nuclear revival: demand signals and risks for uranium projects
Reviewed by Tom Sullivan

First reported on MINING.com
30 Second Briefing
Meta has signed nuclear power deals with Vistra, TerraPower and Oklo for up to 6.6 GW of capacity by 2035 to run its US data centres and the Prometheus AI supercluster in Ohio, adding to a 20‑year, 1.12 GW offtake from Constellation’s Clinton plant. In parallel, the Sprott Physical Uranium Trust has bought 300,000 lb of U₃O₈ in a week, lifting holdings to about 75.2 million lb worth US$6.17 billion, as spot prices hover around US$82/lb. For miners and project developers, this combination of long‑term nuclear PPAs and aggressive physical uranium accumulation signals firmer demand visibility despite persistent SMR cost and schedule risk.
Technical Brief
- Vistra will supply Meta from existing nuclear plants in Ohio and Pennsylvania, extending three plants’ operating lives.
- TerraPower and Oklo deals hinge on future advanced reactors in Wyoming and Ohio, embedding SMR/advanced design risk.
- Meta’s Clinton PPA with Constellation is 20 years, drawing 1.12 GW from a single Illinois plant.
- Sprott Physical Uranium Trust’s 450,000 lb of 2026 purchases mark its strongest Q1 buying since 2023.
- Spot uranium at ~US$82/lb, after a 12% rise in 2025, supports higher incentive prices for new mines.
Our Take
With uranium already one of the more frequently tagged commodities in our 544 Mining stories, Sprott Physical Uranium Trust’s 75.2 million lb position signals that financial vehicles are increasingly central to price formation, which will matter for long‑lead nuclear builds facing typical six‑year delays and cost overruns.
Meta’s long‑dated nuclear offtake in the US and Ontario comes as our database shows other power‑intensive sectors (notably critical‑minerals and rare earth projects in places like Greenland and northern Canada) competing for low‑carbon baseload, suggesting future grid‑access and tariff risk for new mines without similar contracted supply.
The projected 175% rise in data‑centre power demand by 2030, combined with Canada’s SMR build‑out at Darlington and large‑unit plans at Bruce and Wesleyville, effectively anchors a multi‑gigawatt nuclear pipeline in one G7 jurisdiction, which could tighten North American uranium availability for emerging producers unless new supply is fast‑tracked.
Prepared by collating external sources, AI-assisted tools, and Geomechanics.io’s proprietary mining database, then reviewed for technical accuracy & edited by our geotechnical team.
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