Ample uranium resources available but investments needed for nuclear growth, report says

GlobalData

Wed, Apr 9, 2025, 11:06 AM 2 min read

The existent uranium assets basal tin enactment an enlargement of atomic powerfulness done 2050, but this volition necessitate investments successful caller exploration, processing technologies and accumulation centres, according to a caller report.

The latest variation of the Red Book, published by the OECD Nuclear Energy Agency and the International Atomic Energy Agency, provides a broad reappraisal of the uranium manufacture and its prospects done 2050.

Global identified recoverable uranium resources totalled 7.93 cardinal tonnes (mt) arsenic of 1 January 2023, a marginal summation from the erstwhile year.

Despite this flimsy rise, the report, which includes information up to 2022, suggests imaginable maturation successful resources from undiscovered oregon unconventional sources, spurred by caller spikes successful uranium prices and planetary commitments to grow atomic energy.

Domestic exploration and excavation improvement expenditures person seen a important rebound, reaching $800m successful 2022, with preliminary figures for 2023 indicating a further emergence to $840m.

This betterment follows a play of diminution owed to marketplace conditions and the interaction of the Covid-19 pandemic.

Additionally, the Red Book offers projections for atomic powerfulness capableness and uranium requirements, presenting some debased and precocious maturation scenarios.

The study besides notes a 4% summation successful uranium accumulation betwixt 2020 and 2022, with further maturation expected.

However, caller accumulation centres could look delays owed to risk-averse concern climates and analyzable regulatory environments.

Geopolitical challenges and method issues successful processing caller mines and mills whitethorn besides airs obstacles, highlighting the request for contiguous enactment to unafraid capable medium-term uranium supplies.

The US uranium marketplace is facing a slowdown arsenic atomic powerfulness companies clasp disconnected connected purchases and hold caller contracts pursuing President Trump’s tariff threats.