Another comeback for uranium

Conference · Sat Oct 01 04:00:00 EDT 1983 · Soc. Pet. Eng. AIME, Pap.; (United States)

OSTI ID:5355825

Boyden, T A

The uranium market has been unstable since private industry entered the nuclear power generating business in the early 1960s. Uranium supply has always exceeded demand throughout the Free World. In 1982, production was 106 million pounds U308 and accumulated inventory totaled over 400 million pounds; consumption was only 63 million pounds. Recent inventory selling, production cutbacks and producers buying from consumers, have led to decreasing prices and further market instability. It now appears that the market is beginning to change to a more stable situation. Current forecasts indicate that Free World demand will double by 1996, led by Europe and the US. Annual production will average about 100 million pounds during the same period. A closer balance between supply and demand should allow market prices to improve between now and 1990. The situation in the US is more complex. Consumption will increase to 35 million pounds through the 1990s while annual production is expected to decrease to about 12 million pounds, (down from a 1980 high of almost 44 million pounds) before higher prices allow a recovery to an annual production level of about 16 million pounds. The balance of US consumption will be met with imports and inventory drawdowns. Higher prices in the latter part of the decade will support a number of new solution mining projects, and allow the development of high-grade ore deposits by conventional methods. The US producer industry will survive, but will be secondary to those in Canada, South Africa and probably Australia.

• Research Organization: NUEXCO
• OSTI ID: 5355825
• Report Number(s): CONF-8310121-
• Conference Information: Journal Name: Soc. Pet. Eng. AIME, Pap.; (United States) Journal Volume: SPE12053
• Country of Publication: United States
• Language: English

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