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 Feature Insight: Updated Aug 8, 2008

 Overview of Uranium Price, Supply, and Demand

 

U308 $64.50/lb (Effective: August 4th price is unchanged +/-$0.00 from last weeks survey): International supply shortages of uranium, along with escalating nuclear programs in nations such as India and China. According to the World Nuclear Association there are official plans in the works worldwide for 349 new reactors (either under construction, planned, or proposed). Click to see NYMEX Uranium Futures => Uranium Futures - NYMEX

     

Supply Side: A persistent deficit between world U3O8 demand and worlds U3O8 mining supply has existed for close to two decades and inventories are steadily being depleted.

  

Demand Side: Governments worldwide struggle for solutions to control green house gas emissions and produce affordable energy; nuclear power is the cleanest, least expensive and most secure source of electricity. There are currently 439 operational nuclear reactors world wide and that number is expected to grow significantly within the next decade. In the U.S.A., which has 104 operational nuclear power plants providing approximately 20% of the country’s energy, reactors that have met the end of their normal 40-year operating license are being granted extensions and the U.S. Department of Energy is actively providing incentives encouraging power corporations to apply for licenses to build new reactors in an attempt to stave off an imminent energy shortage.

May 12 Eureka over uranium? Sides dig in over mineral - Denver Post 

439 Active Reactors (as of Q1 08)

Table of World Nuclear Reactors 2006-2008 & Uranium Requirements <= Source; World Nuclear Assoc.

 

NUCLEAR ELECTRICITY GENERATION 2006

REACTORS OPERABLE January 2008

REACTORS UNDER CONSTRUCTION January 2008

REACTORS PLANNED January 2008

REACTORS PROPOSED January 2008

URANIUM REQUIRED 2008

billion kWh 

% e 

No. 

MWe 

No. 

MWe 

No.

MWe 

No. 

MWe 

tonnes U

Argentina

7.2

6.9

2

935

1

692

1

740

1

740

123

Armenia

2.4

42

1

376

0

0

0

0

1

1000

51

Bangladesh

0

0

0

0

0

0

0

0

2

2000

0

Belarus

0

0

0

0

0

0

2

2000

0

0

0

Belgium

44.3

54

7

5728

0

0

0

0

0

0

1011

Brazil

13

3.3

2

1901

0

0

1

1245

4

4000

303

Bulgaria 

18.1

44

2

1906

0

0

2

1900

0

0

261

Canada* 

92.4

16

18

12652

2

1500

4

4000

2

2200

1665

China 

51.8

1.9

11

8587

5

4540

30

32000

86

68000

1396

Czech Republic 

24.5

31

6

3472

0

0

0

0

2

1900

619

Egypt 

0

0

0

0

0

0

0

0

1

1000

0

Finland 

22

28

4

2696

1

1600

0

0

1

1000

1051

France 

428.7

78

59

63473

1

1630

0

0

1

1600

10527

Germany 

158.7

32

17

20339

0

0

0

0

0

0

3332

Hungary 

12.5

38

4

1826

0

0

0

0

2

2000

271

India 

15.6

2.6

17

3779

6

2976

10

8560

9

4800

978

Indonesia 

0

0

0

0

0

0

2

2000

0

0

0

Iran 

0

0

0

0

1

915

2

1900

1

300

143

Israel 

0

0

0

0

0

0

0

0

1

1200

0

Japan 

291.5

30

55

47577

2

2285

11

14945

1

1100

7569

Kazakhstan 

0

0

0

0

0

0

0

0

1

300

0

Korea DPR (North) 

0

0

0

0

0

0

1

950

0

0

0

Korea RO (South) 

141.2

39

20

17533

3

3000

5

6600

0

0

3109

Lithuania 

8

69

1

1185

0

0

0

0

2

3200

225

Mexico 

10.4

4.9

2

1310

0

0

0