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Uranium primary production (mining) has been consistently below global nuclear reactor demand since 1991. In 2024, production is expected to match only 89% of global reactor needs – once again missing market demand. This disparity between mined supply and fuel demand has been allowed to exist thanks to an overwhelming amount of secondary supply carried on from a production boom during the Cold War, as well as a short period of excess production post-Fukushima. Global dependence on secondary supply was most obvious throughout 1991 to 2013, where decommissioned weapons and tactical stockpiles supported as much as 50% of global demand. Over the past decade, utilities have continued to rely on secondary supply, albeit mostly in the form of commercial inventories as ex-weapons resources have slowly run dry. However, this plentiful supply environment may be changing.

Commercial inventories are set to fall below 7 million pounds or 3% of global supply and stay that low for the foreseeable future. With production slated to stay below global reactor requirements from now to 2030 and beyond, uranium markets may soon be entering a new era of scarcity.

The UK's first domestic nuclear technology in more than 20 years

Providing a British solution to a global energy crisis

Generate 470 megawatts of low carbon energy

Equivalent to more than 150 onshore wind turbines

Is delivering nuclear power projects today and has more than 60 years of experience

Replaces coal-fired plants in the 300-400MWe range

Supplies remote municipalities and energy-intensive industrial sites

440 nuclear reactors in 32 countries producing 9% of global energy requirements

110 reactors in advanced planning stage, predominately large 1-1.5GW conventional reactors, Small Modular Reactors (SMR's) and Advanced Modular Reactors (AMR's)

Nuclear power projected to grow +300% by 2050 to produce 30% of global power requirements. Outlook supported by 14 of the world's largest Banks and 32 of the world's largest economies

Many of the world's biggest & smartest companies are developing SMR's and AMR's

Uranium is a heavy metal which has been used as an abundant source of concentrated energy for over 60 years. 

Uranium occurs in most rocks in concentrations of 2 to 4 parts per million and is as common in the Earth's crust as tin, tungsten and molybdenum. Uranium occurs in seawater and can be recovered from the oceans. 

Uranium was discovered in 1789 by Martin Klaproth, a German chemist, in the mineral called pitchblende. It was named after the planet Uranus, which had been discovered eight years earlier.

The high density of uranium means that it also finds uses in the keels of yachts and as counterweights for aircraft control surfaces, as well as for radiation shielding.

Uranium has a melting point of 1132°C. The chemical symbol for uranium is U

Australia’s uranium reserves are the world’s largest, with around one-third of global resources. Australia is also the world’s fourth largest producer behind Kazakhstan, Canada and Namibia. 

Australia generated $1.2 billion in export earnings from uranium in FY2023-24 with potential for further growth as recent global energy trends reinforce the benefits of nuclear generation, including energy security, low emissions and reliable supply. 

Australia’s uranium can only be used for peaceful purposes under bilateral agreements with customer countries. 

Uranium for nuclear technology extends beyond energy production to the production of medicines for life saving diagnosis and treatment. 

Australia’s uranium industry will continue to supply fuel for affordable, base-load, zero emissions electricity to people around the world. 

More common than you realise - its 500 times more common than gold.

You need a lot of it - uranium is only slightly radioactive. Only about 0.7% of uranium is capable of undergoing fission.

Weapons-grade depleted uranium -depleted uranium is used in armour-piercing bullets.

Little protection - depleted uranium is also used to create protective armour for tanks, and protective shields and containers

Transportation - density of depleted uranium makes it useful as weights on boat keels and airplane trims

Power - typically 44 million kilowatt-hours of electricity are produced from one tonne of natural uranium. This would equate to the burning of over 20,000 tonnes of black coal or 8.5 million cubic metres of gas. 

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