Changing scene for uranium in Canada

Journal Article · Wed Sep 01 04:00:00 EDT 1976 · Nucl. Technol.; (United States)

OSTI ID:7331377

O'Brien, N

Canada, for 20 yr, has had the popular image of being the fortunate possessor of large reserves of a strategic mineral fuel and possessor of a producing industry born in a boom atmosphere, impatiently awaiting and preparing for the nuclear future to be realized. Shortly after the peak production year of 1959, the uranium industry experienced a rapid decline, one that only three companies survived as continuing producers. But by 1967 the industry was rebuilding, with producers emphasizing security and stability of supply to consumers through long-term contracts; by 1969 the international market had weakened because of oversupply, and many consumers adopted a wait-and-see attitude. The Canadian scene was transformed in 1970 when an alarmed Canadian government announced its intention to restrict foreign equity in new producer companies to 33 percent. A stalemate resulted, exploration was seriously dampened, and legislation to formalize the policy statements has not yet emerged. The world market passed through a depressed phase until the energy crisis, precipitated by the politics of oil, created sudden changes in fuel priorities and national policies. In Canada a uranium policy, announced in September 1974, established priority for domestic requirements, required annual review of uranium reserves, restricted export sales contracts to ten years, and required stringent nuclear safeguards agreements with importing countries. The practical application of the policy still is in its early stages and progress has been slow. Canada will remain a major exporter for some years, since export commitments of 120,000 tons U/sub 3/O/sub 8/ to 1993 have been made; however, most producers are reluctant to consider new commitments until additional production capacity plans and domestic commitments are met.

• Research Organization: Denison Mines Ltd., Toronto
• OSTI ID: 7331377
• Journal Information: Nucl. Technol.; (United States), Journal Name: Nucl. Technol.; (United States) Vol. 30:3; ISSN NUTYB
• Country of Publication: United States
• Language: English

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ACTINIDES
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