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Trends in uranium supply

Journal Article:

Abstract

Prior to the development of nuclear power, uranium ores were used to a very limited extent as a ceramic colouring agent, as a source of radium and in some places as a source of vanadium. Perhaps before that, because of the bright orange and yellow colours of its secondary ores, it was probably used as ceremonial paint by primitive man. After the discovery of nuclear fission a whole new industry emerged, complete with its problems of demand, resources and supply. Spurred by special incentives in the early years of this new nuclear industry, prospectors discovered over 20 000 occurrences of uranium in North America alone, and by 1959 total world production reached a peak of 34 000 tonnes uranium from mines in South Africa, Canada and United States. This rapid growth also led to new problems. As purchases for military purposes ended, government procurement contracts were not renewed, and the large reserves developed as a result of government purchase incentives, in combination with lack of substantial commercial market, resulted in an over-supply of uranium. Typically, an over-supply of uranium together with national stockpiling at low prices resulted in depression of prices to less than $5 per pound by 1971. Although  More>>
Authors:
Hansen, M [1] 
  1. International Atomic Energy Agency, Division of Nuclear Power and Reactors, Nuclear Materials and Fuel Cycle Section, Vienna (Austria)
Publication Date:
Jul 01, 1976
Product Type:
Journal Article
Resource Relation:
Journal Name: IAEA Bulletin; Journal Volume: 18; Journal Issue: 5-6; Other Information: 4 figs, 3 tabs
Subject:
29 ENERGY PLANNING, POLICY AND ECONOMY; CAPITALIZED COST; CERAMICS; ECONOMICS; NUCLEAR FUELS; NUCLEAR INDUSTRY; NUCLEAR POWER; OPEC; PRICES; SOUTH AFRICA; SUPPLY AND DEMAND; URANIUM; URANIUM MINERALS; URANIUM MINES; URANIUM ORES
OSTI ID:
21033159
Country of Origin:
IAEA
Language:
English
Other Identifying Numbers:
Journal ID: ISSN 0020-6067; IAEBAB; TRN: XA08N0432053366
Availability:
Available on-line: http://www.iaea.org/Publications/Magazines/Bulletin/Bull185_6/185_604881627.pdf;INIS
Submitting Site:
INIS
Size:
page(s) 16-27
Announcement Date:
Jun 20, 2008

Journal Article:

Citation Formats

Hansen, M. Trends in uranium supply. IAEA: N. p., 1976. Web.
Hansen, M. Trends in uranium supply. IAEA.
Hansen, M. 1976. "Trends in uranium supply." IAEA.
@misc{etde_21033159,
title = {Trends in uranium supply}
author = {Hansen, M}
abstractNote = {Prior to the development of nuclear power, uranium ores were used to a very limited extent as a ceramic colouring agent, as a source of radium and in some places as a source of vanadium. Perhaps before that, because of the bright orange and yellow colours of its secondary ores, it was probably used as ceremonial paint by primitive man. After the discovery of nuclear fission a whole new industry emerged, complete with its problems of demand, resources and supply. Spurred by special incentives in the early years of this new nuclear industry, prospectors discovered over 20 000 occurrences of uranium in North America alone, and by 1959 total world production reached a peak of 34 000 tonnes uranium from mines in South Africa, Canada and United States. This rapid growth also led to new problems. As purchases for military purposes ended, government procurement contracts were not renewed, and the large reserves developed as a result of government purchase incentives, in combination with lack of substantial commercial market, resulted in an over-supply of uranium. Typically, an over-supply of uranium together with national stockpiling at low prices resulted in depression of prices to less than $5 per pound by 1971. Although forecasts made in the early 1970's increased confidence in the future of nuclear power, and consequently the demand for uranium, prices remained low until the end of 1973 when OPEC announced a very large increase in oil prices and quite naturally, prices for coal also rose substantially. The economics of nuclear fuel immediately improved and prices for uranium began to climb in 1974. But the world-wide impact of the OPEC decision also produced negative effects on the uranium industry. Uranium production costs rose dramatically, as did capital costs, and money for investment in new uranium ventures became more scarce and more expensive. However, the uranium supply picture today offers hope of satisfactory development in spite of the many problems to be solved. (author)}
journal = {IAEA Bulletin}
issue = {5-6}
volume = {18}
place = {IAEA}
year = {1976}
month = {Jul}
}