The global 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 electricity needs in the coming years and the world's goals to tackle climate change, according to The International Atomic Energy Agency (IAEA).
The Agency, based in Vienna, presented the latest report on the resources of uranium production and demand levels, in co-operation 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, up 7.4 per cent over the same period in 2016.
The main reasons for the increase are new discoveries and re-evaluation of some of the resources available previously, stated IAEA in its recent review on the world's uranium supplies.
However, the agency pointed out that significant investment and technical expertise was needed to ensure these uranium resources could be brought into production in a timely manner.-TradeArabia News Service