Based on IAEA-TECDOC-1033 report, Underhill reports that even with a modest forecast of nuclear power growth for the next 25 years, it is expected
that the world uranium requirements will increase. This analysis indicates uranium mine production will continue to be the primary supply of requirements through 2020. Secondary supplies, such as low enriched uranium blended from highly enriched uranium, reprocessing of spent fuel may have to make-up the remaining balance, although the contribution of US and Russian strategic stockpiles is not well known at this time.
[This 1996 report, and others, were the basis of the fears that uranium resources could not meet future demand. Over the years, however, numerous new deposits were discovered in many parts of the world, especially in Canada, Argentina, etc. of sufficient magnitude that uranium reserves are now available to support a substantial increase in nuclear power production]
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