One of our good readers Blackseabrew brought up in a comment the fact that the world was starting to run short on uranium, for nuclear power plants. He said that the supply was limited.
I started to look around at what Russia had available. Here is what I found:
Russia’s total uranium reserves are significantly more than 1 million tons, the head of the Rosatom nuclear corporation said on Tuesday.
Sergei Kiriyenko said Russia had 575,000 tons of recoverable uranium reserves and 875,000 tons of proven reserves. (Link)
The article explained that Russia has enough uranium to supply the world for 60 years. (That is not very long to me!) They also went on to say that there are several new fields of Uranium that are being developed in the future. Including a field in South Yakutia. <-- This link will give you more information about Russia's uranium future than you really would want to know. 🙂 Now at they same time that I was checking on all this radioactive stuff and along comes a news report about the USA and Russia's uranium:
Russia’s Techsnabexport and three U.S. companies affiliated with the FuelCo Group signed on Tuesday three long-term low-enriched uranium supply contracts. “The contracts are worth $1 billion,” said Sergei Kiriyenko, head of the Rosatom state-controlled nuclear corporation. Under the contracts, enriched uranium will be supplied directly to the U.S. companies from 2014 through 2020. (Link)
Looks like we know where a chunk of that million tons of radioactive material will go. Price is $50 per pound at this writing. That is going to be a bunch!
Blackseabrew could be right? So get the price locked in now because what I am reading while researching this article, is that uranium could go off the price scale in the future…
Windows to Russia!
comments always welcome.
PS: I need me a Nucliometer! 🙂