The Uranium Market

The Long-Term Outlook

Uranium is used as a fuel for nuclear power plants that generate electricity. Current worldwide production of uranium falls significantly short of consumption.  The gap between production and consumption has been filled by secondary supplies, such as inventories held by governments, utilities and others in the fuel cycle.

These secondary supplies are currently meeting nearly a third of worldwide demand, but as they are depleted, future production will have to rise closer to demand.