The State Atomic Energy Corporation ROSATOM

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Natural uranium market


 РОСАТОМ » Information about the Corporation » Markets in which ROSATOM has a presence » Natural uranium market



Uranium demand directly depends on the amount of electricity being produced at nuclear power plants. In 2013, the global uranium demand was 64,000 tons. By 2030, natural uranium requirements could increase to 86,000 tons.

In 2013, global uranium mining yielded 59,100 tons (up 3% from 2012). The remaining demand was met by secondary uranium supplies (the HEU Contract, re-enrichment of depleted uranium hexafluoride, recycled uranium, etc.). Mining will grow in the period up to 2030 to meet the increasing demand (during this period, uranium production has to rise to 95,000 tons). During this time, secondary supplies are expected to drop after the completion of the HEU Agreement to about 11,000 tons of uranium equivalent by 2030.

In the natural uranium market, a lasting group of leaders has formed, which as of 2013, includes ROSATOM (~14% of the world output), NAC Kazatomprom (Kazakhstan), Cameco (Canada), AREVA (France), BHP Billiton (Australia-UK), Paladin Energy (Australia), and Rio Tinto (Australia-UK). The seven largest players have a 78% share of the total uranium mining output.

In 2013, new uranium mining facilities with an average capacity of 706 tons per year were commissioned. Some companies continued building new facilities, and if conditions are favourable, they plan to begin production in 2014 with an average capacity of 3,046 tons a year.

Due to uncertainties in nuclear development prospects and the continued price drop in the market, the following large miners have revised their plans for the further development of existing and future projects: Navoi MMC, Cameco, NAC Kazatomprom, Uranium One Inc., Talvivaara Mining Company jointly with Cameco, and Paladin Energy Ltd.

For more details, see the Report section “International business and JSC Atomredmetzoloto’s report for 2013.





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