Vienna, Austria
23–27 June 2014 Conference ID: 46085 (CN-216)
Organized by the
International Atomic Energy Agency (IAEA)

in cooperation with the
OECD Nuclear Energy Agency (OECD/NEA)
World Nuclear Association (WNA)
United Nations Economic Commission for Europe (UNECE)
(…)

In 2005 and 2009, the International Atomic Energy Agency (IAEA) held, at its Headquarters in Vienna, Austria, two major international symposia on uranium production and raw materials for the nuclear fuel cycle in order to discuss all aspects of uranium raw materials for the nuclear fuel cycle with an emphasis on ensuring the long term sustainability of nuclear power programmes.

Since the last of these symposia, notwithstanding the Fukushima Daiichi nuclear accident in 2011, there continue to be strong expectations as to the growth of nuclear power worldwide, leading to an increase in uranium demand and in turn of the price of uranium. Since 1990, the gap between uranium demand and fresh supply from existing mines has been filled by secondary supply. However, with decreasing availability of such ‘above ground resources’, the uranium resource base and production have to be further expanded. The uranium industry revived in the late 2000s, and there was a dramatic spurt in uranium exploration and mining activities in several countries, reflected in increased production, which for a while effectively closed the production–consumption gap. However, demand will significantly exceed supply again very soon.