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Building A U.S. Based Uranium Powerhouse

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    Building A U.S. Based Uranium PowerhouseRichard (Rick) MillsAhead of the Herd
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    As a general rule, the most successful man in life is the man who has the best information Global Uranium The International Energy Agency (IEA) annual World Energy Outlook (WEO) 2014 report projects global energy trends through to 2040. Some interesting predictions:
    • Global energy demand is expected to grow by 37% by 2040.
    • Electricity demand is expected to increase by almost 80% over the same period with some 7,200 gigawatts (GWe) of capacity needing to be built to keep pace with increasing electricity demand and fleet retirements.
    • Energy demand growth will be led by China until the mid-2020s, with India then replacing China as the main energy consumer out to at least 2040.
    The WEO 2014 report also states there were 437 operating nuclear reactors with total installed capacity of 377,728 MWe (fuel consumption per GWe is 192 tonnes U3O8 ) accounting for 11% of global electricity generation. According to the IEA nuclear’s share of electricity generation increases to 12% with total capacity increasing 60% to 624 GWe by 2040 this despite 200 reactors are expected to be retired by that time. The largest increases in nuclear energy generation are expected in China, India, South Korea, and Russia. The number of countries operating reactors is expected to increase from 31 in 2013 to 36 in 2040.
    World Nuclear Power Reactors & Uranium Requirements WNA
    “Industry experts project that, given the number of new reactors planned and the world-wide growing demand for electricity, the demand for uranium will grow significantly over the next decade… The World Nuclear Association predicts that by 2020, mined production will account for 90% of global uranium supply, compared to 75% today… By 2020, China alone will consume the equivalent of one-third of today’s global uranium market. China and Russia have already begun aggressively buying up huge stakes in uranium mining operations around the world in order to stockpile uranium to meet their rising domestic demand.”Virginia Uranium Inc.​
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