Australia’s uranium miners face competition

Australia can expect more international competition to sell uranium as demand grows for nuclear-generated power and more “uranium friendly” nations dig new mines, the Australian Uranium Association said on Tuesday.

Parts of Africa and Eastern Europe in particular were emerging as willing suppliers of uranium oxide to the world’s nuclear reactors, numbering around 440 and growing, the association’s executive director Michael Angwin said.
“The projections are for at least a 50 percent increase in uranium for nuclear power reactors by 2030, and that’s before real efforts to tackle climate change are factored in,” he told Reuters as part of the Global Mining Summit.

The world’s growing preoccupation with climate change is making it possible for alternative fuel sources, including uranium for nuclear power, to play a much wider role in climate management, said Angwin, whose association is funded by uranium mining companies.

Reuters