{"id":33678,"date":"2026-09-15T09:45:00","date_gmt":"2026-09-15T08:45:00","guid":{"rendered":"https:\/\/www.engineernewsnetwork.com\/blog\/?p=33678"},"modified":"2026-09-14T10:23:25","modified_gmt":"2026-09-14T09:23:25","slug":"adequate-uranium-resources-available-but-sustained-investment-essential-to-support-global-nuclear-capacity-growth","status":"publish","type":"post","link":"https:\/\/www.engineernewsnetwork.com\/blog\/adequate-uranium-resources-available-but-sustained-investment-essential-to-support-global-nuclear-capacity-growth\/","title":{"rendered":"Adequate uranium resources available, but sustained investment essential to support global nuclear capacity growth"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">The\u00a0global uranium sector is\u00a0responding to\u00a0growing\u00a0interest in pursuing new\u00a0nuclear energy\u00a0capacity around the world.\u00a0The\u00a0new\u00a0report\u00a0<em><a href=\"https:\/\/cisionone-email.press.oecd-nea.org\/c\/eJwszDuO6yAYBtDVmA6Ll_mhoEiTbUQYPhJubJyLnbE0qx9lNO0pTg4pgoxnCJKc10RGGvYIkqKEpWImzBraSuEkKZq1sMJrK1gNNkaaZyJF0sWblChwUnijFQYj9prxrP_5GuuCvvPkTXJ5KoV_P_-9lvHjbAmP43gN-jKo66Cu53mOG1LmDXHc-n1Q13ePrb5XrixbkWvkHQviDl5z-IXbHwz6oo23fmI91Fa2wQi0e21Abzj3huPc-nNM28r2owPrZ0CaJqQ5chLFcTOZmTttwJNJ5LIqsiRiX0H9BAAA__-OOVtn\" target=\"_blank\" rel=\"noopener\"><strong>Uranium\u00a02026:\u00a0Resources, Production and Demand<\/strong><\/a><\/em> (commonly\u00a0known as\u00a0the\u00a0&#8220;Red Book&#8221;),\u00a0published\u00a0jointly by\u00a0the OECD Nuclear Energy Agency (NEA) and the International Atomic Energy Agency (IAEA),\u00a0finds that\u00a0expenditures in\u00a0uranium exploration and\u00a0mine\u00a0development\u00a0have\u00a0increased significantly\u00a0in recent years.\u00a0These investments are essential to sustain future demand.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Covering the years 2023 and 2024, while also including selected information from 2025 and 2026 where relevant, the latest edition notes that as of 1 January 2025, a total of 418\u202fcommercial nuclear reactors were operating worldwide, with a combined net generating capacity of 378\u202fGWe requiring about 64 500\u202ftU annually. In addition, 23 reactors with a total capacity of 19.7 GWe were in suspended operation. As more countries look to meet rising electricity demand, strengthen energy security and advance environmental goals, global nuclear generating capacity is projected to increase substantially by 2050 under both low- and high-growth scenarios, raising annual uranium requirements to between approximately 84\u202f800\u202ftU and 143\u202f900\u202ftU.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The 2026 edition of the Red Book provides an overview of world uranium market fundamentals, including uranium exploration, resources, production and reactor-related requirements. Drawing on 46 country reports, most based on officially reported government data, it presents projections for nuclear generating capacity and reactor-related uranium requirements through 2050 and assesses long-term uranium supply and demand trends.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Investment is needed to turn resources into supply&nbsp;<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Red Book concludes that the currently identified uranium resources recoverable at costs below USD\u202f260\/kgU (USD\u202f100\/lb\u202fU3O8) exceed 8.1 million tonnes uranium (tU) globally, an increase of 2.1% compared to the previous edition published in 2025. This level of identified uranium resources is sufficient to meet even the highest projected uranium demand through 2050.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">However, resource availability alone does not guarantee supply security. Converting these resources into production will require timely, substantial and sustained investment. Given the long lead times associated with uranium mining project development, typically 15 to 20 years, identifying, permitting and advancing new projects in the near to medium term is essential to reduce the risk of future supply constraints and disruptions. Adequate and sustained uranium prices supported by long-term contracts are therefore critical to maintain exploration momentum, support final investment decisions for new mines, and accelerate innovation in extraction techniques for improved processing and recovery of resources.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Production and exploration activities are increasing, but new projects must advance&nbsp;<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Recent production trends point to a strengthening supply response. Global uranium production increased by approximately 20% in 2023 and 2024 compared with the previous two years, with a total exceeding 116\u202f000\u202ftU. Production in 2024 alone (61\u202f924 tU) was the highest since 2016. The Red Book forecasts indicate that this upward trend is expected to continue in the near and medium term. The increase in production has been driven primarily by the restart of previously idled capacity and the expansion of output at existing mines, particularly in Canada. Although several uranium projects received regulatory approvals and advanced towards development, no new uranium mining projects have begun production.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Global exploration and development expenditures exceeded USD 1.78 billion during 2023\u20132024, representing an increase of approximately 46% compared with 2021-2022. While exploration drilling volumes rose significantly, drilling specifically directed toward project development remains relatively stagnant, underscoring the importance of strengthening the development pipeline.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter is-resized\"><img decoding=\"async\" src=\"https:\/\/storage.googleapis.com\/cision-attachments-uk\/75zibdzr4i1fohzb4dcifkkdh2u4\" alt=\"\" style=\"width:531px;height:auto\"\/><figcaption class=\"wp-element-caption\"><em>Figure 1: Projected world uranium production capability to 2050 (supported by identified resources at a cost of &lt;USD 130\/kgU) compared with reactor requirements<\/em><\/figcaption><\/figure>\n<\/div>\n\n\n<p class=\"wp-block-paragraph\">Read the report <strong><a href=\"http:\/\/www.oecd-nea.org\/uranium-26\">HERE<\/a><\/strong>.\u00a0\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The\u00a0global uranium sector is\u00a0responding to\u00a0growing\u00a0interest in pursuing new\u00a0nuclear energy\u00a0capacity around the world.\u00a0The\u00a0new\u00a0report\u00a0Uranium\u00a02026:\u00a0Resources, Production and Demand (commonly\u00a0known as\u00a0the\u00a0&#8220;Red Book&#8221;),\u00a0published\u00a0jointly by\u00a0the OECD Nuclear Energy Agency (NEA) and the International Atomic Energy Agency (IAEA),\u00a0finds that\u00a0expenditures in\u00a0uranium exploration and\u00a0mine\u00a0development\u00a0have\u00a0increased significantly\u00a0in recent years.\u00a0These investments are essential to sustain future demand. Covering the years 2023 and 2024, while also including selected &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[199],"tags":[15568,15565,15182,15567,15566,15564],"class_list":["post-33678","post","type-post","status-publish","format-standard","","category-news-views-and-opinion","tag-international-atomic-energy-agency-iaea","tag-nuclear-capacity","tag-oecd-nuclear-energy-agency-nea","tag-production-and-demand","tag-uranium-2026-resources","tag-uranium-resources"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Adequate uranium resources available, but sustained investment essential to support global nuclear capacity growth - Engineer News Network<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.engineernewsnetwork.com\/blog\/adequate-uranium-resources-available-but-sustained-investment-essential-to-support-global-nuclear-capacity-growth\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Adequate uranium resources available, but sustained investment essential to support global nuclear capacity growth - Engineer News Network\" \/>\n<meta property=\"og:description\" content=\"The\u00a0global uranium sector is\u00a0responding to\u00a0growing\u00a0interest in pursuing new\u00a0nuclear energy\u00a0capacity around the world.\u00a0The\u00a0new\u00a0report\u00a0Uranium\u00a02026:\u00a0Resources, Production and Demand (commonly\u00a0known as\u00a0the\u00a0&#8220;Red Book&#8221;),\u00a0published\u00a0jointly by\u00a0the OECD Nuclear Energy Agency (NEA) and the International Atomic Energy Agency (IAEA),\u00a0finds that\u00a0expenditures in\u00a0uranium exploration and\u00a0mine\u00a0development\u00a0have\u00a0increased significantly\u00a0in recent years.\u00a0These investments are essential to sustain future demand. 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