Recent activities and trends in the uranium market

Implementing the large number of nuclear power plant projects worldwide presupposes a considerable increase in the production of natural uranium. Preparations have been made: Higher uranium prices stimulate investments into future mines and into uranium exploration. In some countries, the uranium industry is undergoing structural changes so as to be able to meet future requirements. The terms and conditions laid down in long-term uranium supply contracts (prices and fixed delivery volumes) provide present and future producers with the necessary security in investing and planning. The electricity utilities have accepted the shift from a former 'buyer's market' to a 'seller's market' and adapted their uranium supply strategies accordingly. Numerous uranium mines, most of them small, with relatively low uranium ore concentrations, are under construction or in the commissioning phase. However, as secondary sources (fuels not made up of fresh uranium) are gradually coming to an end, many more uranium deposits need to be found and developed to commercial maturity in order to ensure uranium supply also on the long term. The steadily growing industries in the front end and the back end of the fuel cycle have intensified concerns about the non-proliferation of nuclear fuels. However, political considerations with respect to proliferation resistant uranium supply strategies have met with scepticism right from the outset. (orig.)