PUBLICATION
Global Business Reports
Uranium Report 2020
September 08, 2020
On March 11th 2011, the magnitude 9.0-9.1 undersea earthquake east of Japan’s Tōhoku coast provoked a devastating tsunami that caused widespread death and destruction and the meltdown of three reactors of the Fukushima Daiichi Nuclear complex. It was the worst nuclear accident since the 1986 Chernobyl disaster, and it altered the global energy policy debate pretty much overnight.
However, since 2012 nuclear generation has been on the rise again. Currently, there are 54 reactors under construction globally for a total net electrical capacity of 54.4 gigawatts (GW). Adding the reactors already planned but not yet in construction, there are nearly 100 new reactors coming online between now and 2030. With uranium demand projected to grow steadily by 1.5% annually, 2020 has already seen a significant price increase for uranium, and the upcoming decade promises to be an interesting one for the commodity.
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“Phoenix is the highest-grade undeveloped uranium deposit in the world, with an average grade of 19.1% and 59.7 million pounds U3O8 in probable reserves (141,000 tonnes).”
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