Sufficient uranium resources exist to support the continued use of nuclear power and its significant growth through 2050 and beyond, but the world needs to make substantial investments in new exploration, mining operations and processing techniques to meet surging demand, according to the latest Red Book report released on 8 April.
Currently identified uranium resources will be used up by the 2080s under a “high-growth” scenario that assumes nuclear capacity rises in the years to 2050 and then stays elevated, the Nuclear Energy Agency and International Atomic Energy Agency said in the joint report.
While sufficient uranium resources exist to support this growth “investments in new exploration, mining operations and processing techniques will be essential” to meet the demand, the report said.
“Efforts must begin immediately to ensure adequate uranium supplies are available in the medium term,” it added.