IAEA confirms sufficient supplies of uranium resources

VIENNA. KAZINFORM The International Atomic Energy Agency, IAEA, in a recent review of the world's uranium resources market, confirmed that "the world's supply of uranium is more than sufficient to meet projected requirements in the foreseeable future," regardless of the role of nuclear energy in meeting the demand for future electricity needs and the world's goals to face of climate change.

The Agency, based in Vienna, presented the latest report on the resources of uranium production and demand levels, prepared by the International Atomic Energy Agency, IAEA, in cooperation with the Nuclear Energy Agency, NEA.

According to the report, the estimated amount of uranium resources identified worldwide is reported to be about 142 tonnes. The IAEA declared an increase of 7.4 per cent on the total uranium amount compared to the 2016 statistics, WAM reports.

The IAEA attributed the reasons for the increase to new discoveries and re-evaluation of some of the resources available previously. However, significant investment and technical expertise will be required to ensure these uranium resources can be brought into production in a timely manner, said the IAEA.