According to a report released by the World Nuclear Association on September 5, reported by the Financial Times, the global demand for uranium in reactors is expected to increase by one third by 2030, reaching 86,000 tons, and will reach 150,000 tons by 2040. However, as existing reserves are depleted, production from current mines is expected to fall by half between 2030 and 2040, leaving a "huge gap" that threatens the revival of nuclear power. The report calls on the industry to ensure investment to find more uranium and extract it from existing, new, and idle mines to avoid supply tightness. The agency warns that "as existing mines face resource depletion in the next decade, the demand for new primary uranium supply will become more urgent. We need a lot of exploration, innovative mining technologies, effective licensing, and timely investment."
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
The World Nuclear Association warns: Uranium shortage may threaten the revival of nuclear energy.
According to a report released by the World Nuclear Association on September 5, reported by the Financial Times, the global demand for uranium in reactors is expected to increase by one third by 2030, reaching 86,000 tons, and will reach 150,000 tons by 2040. However, as existing reserves are depleted, production from current mines is expected to fall by half between 2030 and 2040, leaving a "huge gap" that threatens the revival of nuclear power. The report calls on the industry to ensure investment to find more uranium and extract it from existing, new, and idle mines to avoid supply tightness. The agency warns that "as existing mines face resource depletion in the next decade, the demand for new primary uranium supply will become more urgent. We need a lot of exploration, innovative mining technologies, effective licensing, and timely investment."