World Video | Defence | Foreign Affairs | Natural Events | Trade | NZ in World News | NZ National News Video | NZ Regional News | Search

 

Despite Price Dip, Uranium Demand, Production on the Rise

Despite Price Dip, Uranium Demand, Production Continues to Rise – UN Atomic Watchdog

Uranium ore is processed into a concentrate known as yellowcake and packed in special, tightly sealed steel drums similar in size to oil barrels. Photo: IAEA

10 September 2014 – A new report by the International Atomic Energy Agency (IAEA) published today found that demand for uranium, the raw material used to fuel nuclear power stations, will continue to rise, despite declining market prices since the Fukushima Daiichi Nuclear Power Plant accident in Japan in March 2011 and lower electricity demand as a result of the global economic crisis.

The Red Book, as the report is known, is a recognized global reference on uranium jointly prepared by the IAEA and the Nuclear Energy Agency of the Organisation for Economic Cooperation and Development (NEA/OECD).

It found an increase in uranium supply, exploration and production. Some seven per cent more uranium resources have been identified since the last report was published in 2012, adding almost 10 years to the existing resource base.

Global uranium production continued to increase between 2010 and 2012, albeit at a lower rate than in the previous two-year period. The growth in the resource base is mainly due to a 23 per cent increase in uranium exploration and mine development, which totalled $1.92 billion in 2012.

On the demand side, projections vary from region to region. While the Fukushima Daiichi nuclear accident resulted in a change of policies in many developed countries, nuclear capacity projections, notably in East Asia and non-European Union states on the European continent, continue to grow.

The Red Book projects that world nuclear electricity generating capacity by 2035 is expected to increase between 7 per cent on the low and 82 per cent on the high side. This is in line with the IAEA's most recent projections of between 8 and 88 per cent for the year 2030.

More than 20 countries around the globe produce uranium, with Kazakhstan, Canada and Australia as the largest producers, accounting for approximately 63 per cent of world production. The reported growth in production is mainly driven by Kazakhstan, with smaller additions in Australia, Brazil, China, Malawi, Namibia, Niger, Ukraine and the United States.

The continued robust demand for the resource has led to future plans for mining operations in new countries including Botswana, Tanzania and Zambia. And to minimise the social and environmental impacts, efforts are being made to develop safe and well-regulated operations.

The new report provides analyses from 45 countries in order to address questions on global uranium exploration, resources, production and reactor-related requirements. It also offers updated information on uranium production centres and mine development plans, as well as projections of nuclear generating capacity and reactor-related requirements through 2035.

ENDS


© Scoop Media

 
 
 
World Headlines

 

ITUC: Nobel Prize In Economics Explodes Minimum Wage And Jobs Myth

The prize was awarded to David Card, Joshua Angrist and Guido Imbens for real-world research in the 1990s that demonstrated, empirically, that the idea touted by conservative economists that higher minimum wages mean fewer jobs is not based on fact... More>>

Science Media Centre: New South Wales Opens Up For Fully-vaccinated – Aus SMC Expert Reaction
Sydney has partially eased Covid-19 restrictions for fully-vaccinated individuals after NSW reached its target of 70 per cent of the population double-dosed. The Australian Science Media Centre has asked experts about the possible risks of the country opening up again...More>>


Nobel Peace Prize: Journalists Who ‘Speak Truth To Power’ Recognized

Two campaigning journalists were awarded the prestigious Nobel Peace Prize on Friday, which UN Secretary-General António Guterres said was recognition that a free press is “essential for peace, justice, sustainable development and human rights – and the cornerstone for building fair and impartial institutions”...
More>>


Focus On: UN SDGs


UN: With Clock Ticking, Sustainable Transport Key To Global Goals
From electric cars and buses to zero-carbon producing energy sources, new and emerging technologies along with innovative policy changes, are critical for combating climate change. But to be effective, they must ensure that transport strategies benefit everyone, including the poorest... More>>


COP26: 7 Climate Action Highlights To Remember

A September to remember, a pivotal month for climate action commitments. From the United Nations General Assembly week to the final pre-COP meeting, last month was an important time to build momentum... More>>


UN: Global Leaders Set To Act To Increase Energy Access While Reducing Emissions At First UN Energy Summit In 40 Years

Significant new commitments for financing clean energy, increasing renewables and improving access to electricity are expected to be announced on 24 September at the UN High-level Dialogue on Energy... More>>