Thursday, February 03, 2011

"Massive" global uranium shortage developing

At a resource investment in London this week, analysts are projecting that "there will be a fundamental shortage of supply for at least the next 10 years - with the supply/demand gap widening as the decade continues and the big planned increase in nuclear power generation plants comes about." reports that presenters agree that production from new projects will not be sufficient to meet likely demand.

Ian Hiscock from market analysis group CRU Strategies predicts the supply gap increasing through the decade to 65,000 tonnes per year, while others warned that is a conservative estimate and the gap will be larger.

Northern Arizona is increasingly being recognized as one of the richest uranium sources in the world [right, USGS map of breccia pipe districts] but a million acres of prospective federal lands are 'segregated' from exploration and development while an EIS is being prepared. Mining opponents are pushing for a 20 year moratorium on mineral entry in the region.

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