Dev Randhawa on Nuclear Energy
Germany restarts nuclear reactors; the US gives the okay for the first new nuclear power plants in 30 years; Canada announces uranium export deal with China. Three news items from a few days back (Feb 9th), highlighting that nuclear energy is not just a necessity, but a growing necessity as the world’s demand for power expands.
Let’s look at a couple of those news items separately. The US has not built a nuclear power station in 30 years. Now this decision to allow new construction falls in line with research conducted by the World Nuclear Association which reports that by 2030, 156 reactors will have closed but 298 new reactors will have come online. That’s a net growth of 142 new reactors online over the next 18 years.
As for the uranium export announcement? Well it is not a coincidence that the world’s largest nation (China) has made a new uranium agreement with Canada. The reality is that Canada’s Athabasca Basin is the source of the world’s highest uranium grades and last year supplied around 20% of the world’s uranium. As we all know in the mining industry, grade is king, and uranium is no exception.
Dev Randhawa
Dev Randhawa
