Uranium risks becoming the next critical minerals crisis

Faced with the most serious energy crisis since the 1970s, the world is turning back to one of the biggest beneficiaries of the 1973 oil embargo: nuclear power.

That is good news, but we should take care. This solution to energy security problems risks creating its own energy security headache down the road.

That is because uranium’s supply chain is as susceptible to geopolitical manipulation as those for natural gas, cobalt and rare earths. If developed countries want to count on atomic energy as a reliable source of zero-carbon power in the 2030s and 2040s, they are going to need to start locking down the mineral resources now.

Nearly three-quarters of nuclear generation happens in Europe, North America and developed parts of Asia. However, rich nations and their allies provide just 19 percent of the 75,000 tonnes of uranium oxide needed to fuel those reactors each year. China, the […]

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