Energy crisis – nuclear power plants – uranium demand

The energy crisis is already here, on a global scale, and it is growing. Rising energy costs will force the use of nuclear power. Just recently, Japan announced it would have seven more nuclear reactors back in production. This brings to 17 the number of plants in operation in Japan, which alone will consume about eight million pounds of uranium. As energy prices continue to skyrocket worldwide, many will follow Japan’s lead, as energy prices have reached record highs. And domestically produced energy has become valuable. Wind and solar power are not enough to meet the growing demand for energy. Given the choice of coal, natural gas or nuclear power, nuclear energy is the safest and cleanest option.

Besides, with nuclear energy, supply and prices are stable. This is because uranium accounts for around five percent of the total cost of operation. In a natural gas power plant, fuel accounts for as much as 70 percent of total operating costs – a huge difference. If the price of uranium were to double when operating a nuclear power plant, the impact on consumers would logically be small. The fact that the price of uranium will go up suggests that supply and demand are not in balance. Whereas 130 million pounds of uranium were produced last year, this year’s demand is estimated at 180 million pounds of uranium. Demand is forecast to be around 200 million pounds of uranium a year for the next few years.

For example, IsoEnergy – https://www.youtube.com/watch?v=zvnfOE-2hXU – has uranium projects in the Athabasca Basin in Saskatchewan, which is an excellent uranium area.

Consolidated Uranium has secured a substantial portfolio of projects. These are located in Australia, Canada, Argentina and the USA and contain uranium, vanadium and rare earth elements.

Current corporate information and press releases from IsoEnergy (- https://www.resource-capital.ch/en/companies/iso-energy-ltd/ -) and Consolidated Uranium (- https://www.resource-capital.ch/en/companies/consolidated-uranium-inc/ -).

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