A Uranium Supply
Deficit is Unavoidable
The Long Term Outlook
The 2040 deficit is equal to annual production from 11 new operating mines the size of Cigar Lake
Chronic Underfunding of new U supply
…has prevented exploration, development & mining from keeping pace with resource depletion and is clearly inadequate to keep up with emerging demand
IAEA’s Seismic Shift in U Supply View
…”timely investments in new exploration, mining operations and processing techniques will be essential to ensure that uranium becomes available to the market when needed.”
IAEA Red Book, 2024
Demand Drivers
- Growing demand for clean baseload electricity
- The Electricification of All Things
- Al and datacentre power needs
- Implementation of SMRS
- Energy security
- Governmental climate change pledges