Uranium supply and demand to 2005: an update

The Uranium Institute's last biennial report was published in 1989 and covered the status of the uranium market as at the end of 1988. Since then continued low demand has brought about changes affecting uranium supply and inventories in particular. These developments compelled the Institute to review the data and publish an updated summary. This paper focuses on the changes since the 1989 report which are reflected in the update. The forecast of nuclear generating capacity, reactor requirements, utility procurements and uranium production capacity have all been revised downwards. Estimated supply from the Soviet Union and China now forms an important part of overall supply capacity and has been included in the supply forecast. The paper also summarizes the results of the Institute's Inventory Working Group and conclusions of an Institute survey on investment in exploration and development. (author)