Uranium demand reviving
This is how the World Nuclear Association sees it. Rapid growth in uranium demand predicted up to 2040
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The 19th report of the World Nuclear Association examined the demand and supply of uranium from 2019 to 2040. Various scenarios were examined, as were the influencing factors. These include politics, public acceptance, nuclear economics and combating climate change.
Global nuclear power plant capacity was 398 gigawatts in 2018. At the end of 2018, 450 nuclear power plants were in operation. A capacity of 462 gigawatts is forecast for 2030 and 569 gigawatts for 2040. Based on a different scenario, the figures are 537 and 776 gigawatts respectively.
The rising demand is caused by France (extension of reactor life), the USA (operation of reactors up to 80 years) and extensive plans by China and India to expand nuclear power. New power plants are also expected in countries such as Turkey, Egypt and Bangladesh.
At the same time, the supply is becoming scarcer. While global production in 2016 was 62,221 tons of uranium, 53,498 tons of uranium were still produced in 2018. Low uranium prices led to limited uranium production. In addition, Kazakhstan, the leading uranium-producing country, will further reduce its production next year. At some point, all this should be reflected in the price of uranium, and the uranium companies, such as IsoEnergy or Uranium Energy, should also be pleased with it.
Uranium Energy - https://www.commodity-tv.com/play/uranium-energy-is-uniquely-positioned-for-uranium-price-growth/ - owns the largest ISR uranium project in Wyoming, USA (under construction) and three ISR projects in Texas plus the fully licensed Hobson processing plant. Further uranium projects and a high-quality ferro-titanium deposit round off the portfolio.
IsoEnergy - https://www.commodity-tv.com/play/isoenergy-drilling-new-target-areas-in-winter-2020/ - owns several uranium projects in the Athabasca Basin in Saskatchewan and a uranium property in Nunavut. Recently, two other promising uranium projects (100 percent) were added in the eastern Athabasca Basin.
Current company information and press releases from Uranium Energy (https://www.resource-capital.ch/en/companies/uranium-energy-corp/) and IsoEnergy (https://www.resource-capital.ch/en/companies/iso-energy-ltd/).
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