In 2023, governments have committed to tripling global nuclear energy capacity.

The aim is to accelerate the transition to clean energy. Tripling nuclear energy capacity by 2050 means that capacity must increase from around 400 GWe (gigawatts of electricity) today to 1,200 GWe. And that’s quite a lot. If you deduct power plants that may be decommissioned, there are still around 40 GWe that need to be added each year. Perhaps the small modular reactors, the so-called SMRs, will begin their triumphal march. Not only new construction projects and refurbishments are necessary, but also a secure supply of uranium. Sufficient and functioning uranium supply chains are therefore required, with geopolitical developments also playing a role. Various factors therefore have an impact on the supply chains and innovation and diversification are required within the supply chains. The World Nuclear Association is also committed to generating new nuclear technologies and ensuring the long-term operation of nuclear power plants.

Australia is one of the countries that are intensively involved with nuclear power. So far, there is no nuclear power plant down under. The future Australian coalition government there has presented a nuclear plan with seven future sites for nuclear power plants. The financial aspects are still being discussed. This is because around 90 percent of base load electricity generation, mainly from coal-fired power plants, will soon reach the end of its life. A balanced electricity mix of renewable energies and gas, together with nuclear power, is the plan. What the nuclear power plants planned and under construction worldwide urgently need is uranium.

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Current company information and press releases from

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