De-Carbonizing our Energy Industry

Uranium (Nuclear Minerals) / Nuclear Power - Economics, Design, & Industry

Date posted: 04/09/16

Richard Mills opines that nuclear energy currently provides around 11% of the world electricity. China, the European Union, the U.S., India, Russia, South Korea, and other nations have major existing fleets. The World has hundreds of nuclear power plants under construction and proposed. And, existing reactors which have reached their original estimated operating lives are being relicensed. These factors, together with recent limited investment in new uranium exploration and development, might be good indicators of future improvements in uranium markets for potential investors looking at the industry. According to the World Nuclear Association, China has 27 nuclear reactors in operation and another 27 under construction, with almost 100 more planned by 2030. Some of the most advanced reactors will give China a three-fold increase in nuclear capacity to at least 58 gigawatts by 2020 to 2021 and a further 150GW by 2030. China has also committed to an ambitious target of building around 30 nuclear power plants in countries along the One Belt and One Road initiative by 2030. India is also in the midst of a major expansion of nuclear-power generation. Their target is to generate 25% of electricity from nuclear power by 2050, that is up from 4% in 2013. Canadian Cameco, the largest listed uranium mining company, signed a five-year deal with India Prime Minister Narendra Modi to buy 3,000,000 lbs. of U3O8 annually to supply fuel to Indian nuclear reactors. Japan has restarted four reactors, which will accelerate in the coming years as the country returns to nuclear energy, thereby reducing the chance that their stockpilled uranium and nuclear fuel will be sold into the market. Japan has restarted two nuclear reactors last year (at Sendai) and two more this year (at Takahama), and in total about 30 of the Japanese 54 nuclear plants will likely be restarted soon and others in the coming years. The EU should at least maintain its current capacity of nuclear power...