Uranium industry veteran John Borshoff says the global shift away from Russian products will have a “profound” impact on the nuclear power industry as close to $1 billion worth of corporate activity was announced across ASX uranium stocks on Thursday.

Mr Borshoff will be managing director of the uranium mining company that emerges from Thursday’s $658 million merger of Deep Yellow and Vimy Resources, while the company Mr Borshoff previously ran, Paladin Energy, announced it was raising $200 million to restart the Langer Heinrich mine in Namibia.