Uranium Today

Discover more about uranium and the nuclear industry in the 21st century and how it can play a critical part in decarbonising our world.

Global uranium demand is souring

Sentiment regarding the energy produced from nuclear reactors is changing from ill-informed rejection to a fast growing acceptance of the sectors ability to supply reliable baseload energy 24/7/365 with a clean, green footprint that will become essential in the global push for carbon free energy.

It is estimated that nuclear power generation will range between its current 10% of the global electricity supply and may increase to 14% by 20401.

Between now and 2050 the world’s power consumption is projected to grow by 50%1.

Uranium supplies have been augmented since Fukushima (2011) by stockpile selloffs and from the secondary market, this had reduced to 18% of the supply (2022) and will further decrease to 10% by 20402.

The bottom was reached by 2018 and the spot price has recovered from US$18/lb to US$65/lb since.

The IAEA is forecasting that power generation from nuclear plants will increase from 393GW (2022) to 812GW (2050)1.

The WNA notes that consumption was 162.4Mlbs in 2021 and provides three scenarios by 2040:

  • Low 205.4Mlbs pa
  • Base 291.9Mlbs
  • High 406.8Mlbs3

Mothballed and near development operations are advancing into the current supply deficit but are expected to increase annual production by 30Mlbs pa not even matching the 41Mlbs lost following Fukushima.

  1. International Atomic Energy Association
  2. Nuclear Energy Association
  3. World Nuclear Association

Uranium market balance

Source: WNA, IAEA, NEA, UxC, Company Doto, Morgon Stanley, Cantor Fitzgerald, Trade Tech, Independent Speculator estimates

The following links provide comprehensive information on the global nuclear energy industry now and for the future.


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