Thrane and Steenfelt reported in 2018 that uranium is almost entirely used for generating electricity. As of January, 2015, a total of 437 commercial nuclear reactors were connected to the grid worldwide, generating 377 GWe and requiring about 56,600 tons of uranium annually. At the same time, 70 new reactors were under construction in 15 countries.
The world nuclear power capacity in 2035 is projected to grow to 418 GWe in the low demand case and 683 GWe in the high demand case. Accordingly, world annual reactor-related uranium requirements are projected to rise to between 66,995 and 104,740 tons of uranium by 2035.
The authors concluded that the uranium potential in Greenland is considered relatively high with one very large deposit already being advanced toward production (pending application and approval). Existing evidence from aeroradiometric and drainage surveys combined with field investigations points to South Greenland as the most prospective region for additional hidden or unrecognized intrusive-type uranium occurrences.
Favorable geological settings for unconformity-related uranium mineralization have been identified, suggesting a potential for such deposits, [which if similar to the Canadian unconformity-related uranium mineralization, the ore grades could be very high which could indicate world class deposits in both volume and value].
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