The threats to introduce an embargo on Russian uranium had a diametrically opposite effect on its key consumers
- May 16
Germany advocated the introduction of the embargo for the supply of Russian Uranus to Western countries. However, France develops the nuclear sector and collaborates with Rosatom. If the European Commission accepts the sixth package of sanctions, this will affect the nuclear energy of Europeans, since the import of uranium from Russia to Europe is 20%. The United States also thinks to refuse to purchase Uranus in Russia. These measures will lead to an increase in nuclear fuel prices.
In 2016, there was a peak of uranium production - 63.2 thousand tons. After the uranium -producing industry, it went to decline. In the period from 2016 to 2020, the fall reached 24%. This is due to a low price level. Containing expensive production was unprofitable. As a result, the capacity was frozen by 70%.
However, from 2000 to 2018, electricity consumption increased by 72%, and the current production of Uranus does not cover demand. By 2040, growth is predicted by another 55%.
Demand for ore depends on the number of nuclear power plants. For 2019, 437 power units with a total capacity of 394.5 GW were recorded in the world. 51 reactor - under construction. The world need for Uranus, according to IAEA (International Nuclear Energy Agency), is 59.2 thousand tons per year.
According to forecasts, in 2030, the power will increase to 462 GW, and the need for uranium will be 84.85 thousand tons. All these factors indicate that the uranium -using industry has a growth potential.
50% of uranium ore consumption in the world falls on 3 countries: the USA - 33%, France - 12% and China - 12%. However, only China produces Uranus independently. This volume provides 20% of the needs of the nuclear power plant.
Energy companies purchase uranium for long-term contracts for 4-10 years. A wave of concluding such contracts came in 2005-2012. France and the USA are 100% of uranium ore importers. In 2022-2023 Their long-term contracts end, and you need to conclude new ones with someone.
According to data for 2021, there are 15 Uranus manufacturers. 73% falls on Kazakhstan, Canada, Australia and Namibia, of which 41% belongs to Kazakhstan.
However, not everything is so clear. There are companies that extract natural uranium in the territory of one country, but belong to another. For example, the Canadian Uranium One is engaged in production in Kazakhstan. In 2020, the company produced 4,276 tons of uranium and took 3rd place in the world.
In 2013, Uranium One went into the direct control of Rosatom. Thus, Rosatom paved his way to the uranium assets of Kazakhstan and ensured the extraction of raw materials for many years.
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France - in the first place in the world in electricity export and in the second - in the production of energy using nuclear power plants. The country has 58 reactors with a total capacity of 61.4 GW.
As mentioned above, Uranus is not mined in France. Every year, imports are 10,500 tons. 4500 tons are supplied by the French company Orano (until 2018 AREVA).
However, one of the Orano suppliers is the Russian machine -building factory of Twel. TVEL is the fuel company Rosatom, the largest manufacturer of nuclear fuel in the world.
France operates 2nd generation power units. The reactors were built in the late 1970s and early 1980s. The service life of 2-generation reactors is 30-40 years.
Therefore, in 2014, the energy generating state -owned company Electricity de France promoted the program to extend the life of nuclear power plants up to 60 years.
France also participates in the development of 4th generation reactors.
In 1994, Russia and the United States entered into a VOU-NOU agreement for the supply of low-enriched uranium. For 20 years, the United States covered half its annual needs for enriched uranium. This led to the fact that the States did not develop technologies for the separation of uranium isotopes.
The US Department of Energy proposed abandoning Russian Uranus. But in a short time, Americans will not be able to establish the release of enriched uranium to cover the needs of nuclear power plants.
The only existing company that produces enriched uranium in the USA is Urenco Group. The plant satisfies the market needs ⅓.
In 2013, Rosatom and Finnish Fennovoima Oy signed an agreement on the construction of Khanhikivi-1 NPP. The project cost was estimated at 6.6 billion euros. Fennovoima Oy contribution - 1.6 billion euros. The remaining 5 billion is looted by Rosatom. The Finns also signed a 10-year Treaty with TVEL JSC for the supply of nuclear fuel. The amount of the contract is 450 million euros. However, Finland terminated the deal due to delays in the implementation of the project and the current crisis.
The general contractor Raos Project Oy, the Finnish subsidiary of Rosatom, said:
In Africa, “green” energy is promoted. But the energy of the sun and wind is not cheap due to equipment that serves as a backup power. In peak hours of energy consumption, the drives cost 500 cents/kWh. Moreover, every third still does not have access to electricity.
This is one of the reasons why Africa looks towards nuclear energy. Countries need an uninterrupted and profitable source of energy.
In Kenya, by 2030, the growth of electricity consumption is predicted by 30% among industrialists.
Rosatom has already signed contracts on cooperation in the field of nuclear energy with 15 African countries.
Russia takes 7th place in the production of uranium in the world. However, atomic energy is not only prey, but also high technologies. At the nuclear power plant, not natural uranium is used, but enriched.
Rosatom leads in the market of enriched uranium, occupying a share of 36%. The State Corporation fulfills orders for the supply of fuel to China and India.
As mentioned above, they thought about atomic energy in Africa, as well as in Latin America and Asian countries. All these are new sales markets for the Russian Federation.
Do you think it is worthwhile to consider new markets as an alternative to the Western?
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