Growing Nuclear Industry Could Create Uranium Shortage, Experts Say

3 August 2009 (Last Updated August 3rd, 2009 18:30)

The growing number of nuclear reactors around the world could lead to a shortfall in the supply of uranium, a major uranium producer told Mining Daily. Energy Resources Australia (ERA) chief executive Rob Atkinson told the news service that as the nuclear industry grows uranium m

The growing number of nuclear reactors around the world could lead to a shortfall in the supply of uranium, a major uranium producer told Mining Daily.

Energy Resources Australia (ERA) chief executive Rob Atkinson told the news service that as the nuclear industry grows uranium mines are not keeping pace.

Earlier this year, Toronto-based investment management firm Salida Capital said that annual mine output of 107 million pounds was far below the demand of 168 million pounds.

There are about 436 active reactors operating globally while another 151 new reactors are either planned or under construction and output should be boosted by 55% before the end of the decade, Salida said.

ERA announced uranium oxide sales of 2,280t, an increase of 31% on 2008’s figures, Mining Daily reported.